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Copywriteroffice - Who is a tax advisor? And how can you become one? serp result detail
Keyword Who is a tax advisor? And how can you become one?
Search Urlhttps://www.google.com/search?q=Who+is+a+tax+advisor%3F+And+how+can+you+become+one%3F&oq=Who+is+a+tax+advisor%3F+And+how+can+you+become+one%3F&num=30&hl=en&gl=US&sourceid=chrome&ie=UTF-8
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Result 1
TitleHow to Become A Tax Advisor: Step by Step Guide And Career Paths
Urlhttps://www.zippia.com/tax-advisor-jobs/
DescriptionA complete guide that will help you start your career as a Tax Advisor. Follow these essential steps to becoming a Tax Advisor. Learn about career path, skills, education, certifications and salary
Date
Organic Position
H1How to Become a Tax Advisor
H2What is a Tax Advisor
Tax Advisor Career Paths
Average Salary for a Tax Advisor
Tax Advisor Resumes
Tax Advisor Demographics
Tax Advisor Education
Check Jobs That Match To Your Education
Top Colleges for Tax Advisors
Online Courses For Tax Advisor That You May Like
Top Skills For a Tax Advisor
12 Tax Advisor RESUME EXAMPLES
Best States For a Tax Advisor
How Do Tax Advisor Rate Their Jobs?
Top Tax Advisor Employers
Tax Advisor Videos
H3What Does a Tax Advisor Do
How To Become a Tax Advisor
What is the right job for my career path?
Tax Advisor Jobs You Might Like
What is the right job for my career path?
Calculate your salary
Tax Advisor Jobs You Might Like
Tax Advisor Jobs You Might Like
Tax Advisor Related Careers
Tax Advisor Related Jobs
What Similar Roles Do
Resume For Related Jobs
H2WithAnchorsWhat is a Tax Advisor
Tax Advisor Career Paths
Average Salary for a Tax Advisor
Tax Advisor Resumes
Tax Advisor Demographics
Tax Advisor Education
Check Jobs That Match To Your Education
Top Colleges for Tax Advisors
Online Courses For Tax Advisor That You May Like
Top Skills For a Tax Advisor
12 Tax Advisor RESUME EXAMPLES
Best States For a Tax Advisor
How Do Tax Advisor Rate Their Jobs?
Top Tax Advisor Employers
Tax Advisor Videos
BodyHow to Become a Tax AdvisorOverviewJobsSalaryResumeSkillsWhat They DoEducationCertificationsDemographicsBest StatesMore Remote JobsGet Alerts For Tax Advisor JobsOn This PageSkip to sectionOverviewOpen JobsCareer PathsAverage SalaryResume Examples & TemplatesMore DemographicsEducational RequirementsTop SkillsBest StatesEmployersVideosDemographicsEducational RequirementsTop SkillsBest StatesEmployersVideosWhat is a Tax Advisor. A Tax Advisor is a financial expert with training and knowledge of tax accounting and tax law. A Tax Advisor is usually retained to minimize taxes payable while staying compliant with the law in complicated financial situations. Tax advisors may able be accountants, lawyers, or financial advisors. They may also work as a team consisting of these professionals. Tax Advisors also help with tax planning, inheritance issues, charitable giving, and tax situations. As Tax Advisors, they advise clients on income tax returns and a range of financial matters, including trusts, estates, and retirement taxes. Tax Advisors need to stay informed about the most current tax requirements on federal and state levels. To become a Tax Advisor, you need to be an EA or a CPA. The requirements for becoming a CPA are set by a state's Board of Accountancy and incudes passing a 4-part national CPA exam and finishing 150 college hours of course work in accounting. You will need a bachelor's degree in accounting or finance and become a CPA. It is also advisable to have experience as an accountant or an auditor for a private business, non-profit, or accounting firm. You could also gain experience working for the IRS or as a state revenue staff member. Being a Tax Advisor is a good career, and you can make an average yearly salary of $62,636 per year or $30.11 an hour. There is more than meets the eye when it comes to being a Tax Advisor. For example, did you know that they make an average of $17.43 an hour? That's $36,260 a year! What Does a Tax Advisor Do. When it comes to the most important skills required to be a Tax Advisor, we found that a lot of resumes listed 40.7% of Tax Advisors included Tax Returns, while 7.5% of resumes included Financial Records, and 7.5% of resumes included Small Businesses. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.Learn more about what a Tax Advisor doesHow To Become a Tax Advisor. If you're interested in becoming a Tax Advisor, one of the first things to consider is how much education you need. We've determined that 54.4% of Tax Advisors have a bachelor's degree. In terms of higher education levels, we found that 13.9% of Tax Advisors have master's degrees. Even though most Tax Advisors have a college degree, it's possible to become one with only a high school degree or GED. Choosing the right major is always an important step when researching how to become a Tax Advisor. When we researched the most common majors for a Tax Advisor, we found that they most commonly earn Bachelor's Degree degrees or Associate Degree degrees. Other degrees that we often see on Tax Advisor resumes include Master's Degree degrees or High School Diploma degrees. You may find that experience in other jobs will help you become a Tax Advisor. In fact, many Tax Advisor jobs require experience in a role such as Customer Service Representative. Meanwhile, many Tax Advisors also have previous career experience in roles such as Accountant or Office Manager. Show moreWhat is the right job for my career path?Tell us your goals and we'll match you with the right jobs to get there.See My JobsAverage Salary$36,260Job Openings88,927Don't Have A Professional Resume?Create My ResumeTax Advisor Career Paths. As you move along in your career, you may start taking on more responsibilities or notice that you've taken on a leadership role. Using our career map, a Tax Advisor can determine their career goals through the career progression. For example, they could start out with a role such as Office Manager, progress to a title such as Accounting Manager and then eventually end up with the title Assistant Controller. Tax AdvisorOffice ManagerAccounting ManagerAssistant Controller6 YearsOffice ManagerAccounting ManagerControllerCorporate Controller12 YearsOffice ManagerOperations ManagerBranch ManagerManager, Assistant Vice President7 YearsManagerControllerController, Vice President11 YearsManagerFinance ManagerControllerAccounting Director11 YearsManagerProperty ManagerDirector Of Property Management6 YearsShow MoreShareEmbed On Your WebsiteTop Careers Before Tax Advisor. Customer Service Representative(304,799 Jobs)10.3 %Accountant(70,461 Jobs)8.2 %Office Manager(51,932 Jobs)8.1 %Show MoreSearch for these jobsTop Careers After Tax Advisor. Accountant(70,461 Jobs)10.2 %Customer Service Representative(304,799 Jobs)9.9 %Office Manager(51,932 Jobs)8.4 %Show MoreSearch for these jobsTax Advisor Jobs You Might Like. What is the right job for my career path?Tell us your goals and we'll match you with the rights job to get there.See my jobsCreate The Perfect ResumeOur resume builder tool will walk you through the process of creating a stand-out Tax Advisor resume.Create My Resume NowAverage Salary for a Tax Advisor. Tax Advisors in America make an average salary of $36,260 per year or $17 per hour. The top 10 percent makes over $57,000 per year, while the bottom 10 percent under $22,000 per year.Average Salary$36,260Find Your Salary EstimateHow much should you be earning as an Tax Advisor? Use Zippia's Salary Calculator to get an estimation of how much you should be earning.View Your SalarySee More Salary InformationCalculate your salary. Use Zippia's Salary Calculator to see how your pay matches up.CalculateTax Advisor Resumes. Designing and figuring out what to include on your resume can be tough, not to mention time-consuming. That's why we put together a guide that is designed to help you craft the perfect resume for becoming a Tax Advisor. If you're needing extra inspiration, take a look through our selection of templates that are specific to your job. Barbara NelsonTax AdvisorContact InformationPhiladelphia, PA(520) [email protected] PreparationQuickbooksCustomer ServiceJournal EntriesTax AgenciesRevenue GrowthVertexIRSR BlockAnnual Reports  Employment HistoryTax Advisor2017 - PresentH&R BlockPhiladelphia, PAVerified totals on forms prepared by other Tax Preparers to detect errors in mathematics or procedures.Provided front desk reception assistance including scheduling appointments for multiple tax professionals.Prepare client's federal and state income tax returns Assist clients with IRS letters Provide clients with tax and financial adviceGuided clients on how to accurately keep financial records and to maintain household budgets.Tax Professional2009 - 2017H&R BlockNew York, NYResolved client concerns and questions related to IRS calculations and interpretationsTrained 20 employees and managed their progress through H&R Block.Greeted customers and answered phone calls and emails.Created tax returns for Volunteer Income Tax Assistance (VITA) clients for 2005 tax season.Offer other H&R Block financial products and services with the goal of helping clients achieve their financial objectives.Tax Accountant2007 - 2009American International GroupNew York, NYReconcile daily quarterly and annual tax extract from on/off cycle payroll to Ceridian.Maintain and test Sarbanes-Oxley 404 key internal controls.Wire payroll tax payments to Ceridian.EducationBachelor's Degree Accounting1999 - 2002Baruch College of the City University of New YorkNew York, NY  Patrick OwensTax AdvisorContact InfoColumbus, OH(950) [email protected] SheetCompetitive AnalysisVendor InvoicesAudit EngagementsAdditional ProductsVariance AnalysisData AnalysisAtypical ReturnsFinancial StatementsAdvise ClientsEmployment HistoryTax Advisor2011 - PresentBattelleColumbus, OHReceived Certificate of Tax Preparations from Jackson Hewitt Tax Services.Saved $8,976 to a client by requesting IRS penalties waiver for filing late partnership tax returns for [ ]Audit support for IRS letters and amended returns.Accountant/Consultant2008 - 2011BattelleColumbus, OHInput vendor invoices and check requests into A/P system.Process approved invoices code to proper general ledger for payment into QuickBooks.General Ledger Accountant2005 - 2007Robert Half InternationalOrlando, FLWorked with project cost allocations.Assisted Financial Accounting Manager with other tasks and special projects as needed.Provided useful analysis of income statement and balance sheet variances to senior management as requested.Assist Accounting Manager or Controller for accounting related functions and special projects.EducationMaster's Degree Business2007 - 2008Ohio State UniversityColumbus, OHBachelor's Degree Business2002 - 2005University of Central FloridaOrlando, FL  Lisa HillTax AdvisorNew York, NY(540) [email protected] Advisor2011 - PresentLiberty Tax•New York, NYLearn and use custom tax software specific to Liberty Tax Service.TAX PREPARER LIBERTY TAX SERVICE DECEMBER 2007 - This was a seasonal positional I did on a needed basis.Analyzed and balanced financial statements.Tax Professional2008 - 2011Jackson Hewitt•Warren, NJProvide tax services to different clientsSchedule appointments for tax payers Prepare income taxes for clientsAssisted customers in preparations and itemized tax services.Prepared individual tax forms and applications using centralized database system owned by Jackson Hewitt Tax Service.Respond to customers in person and via telephone, scheduling appointments, resolving issues and providing answers to questions.Tax Accountant2007 - 2008Citi•Warren, NJPerformed data entry using Rekon Filenet and Netro to verify file-closeout/lien releases.Manage billing and timing of deliverables on 15 large client relationships - One exceeding 900 total billable hours.Assist with data collect for Sarbanes-Oxley 404 testing.Performed tax due diligence review on several mergers & acquisitions projects.Produced monthly financial reports and reported budget variances.SkillsPtmsFinancial StatementsTrial PreparationTax Law HandbooksAudit AssistanceCPAJournal EntriesCorptaxFull Life CycleEnsure ComplianceEducationBachelor's Degree Accounting1999 - 2002Pace University•New York, NY  Marie AndrewsTax AdvisorEmployment HistoryTax Advisor2011 - PresentLiberty TaxDallas, TXPrepared tax returns for clients as well as corresponded with the Internal Revenue Service on behalf of clients.Detect errors in arithmetic, data entry, or procedures on tax formsPrepared personal and small business taxes for clients and for Liberty Tax Service for two seasons.Managed and led team of tax preparers, processors, marketing and administrative staff to operate client based tax services.Certified Public Accountant2001 - 2011Ernst & YoungDallas, TXPerform tax compliance engagements on partnerships, corporations and REITs for real estate clients.Prepared necessary supporting documents with all returns - including documents converting foreign entity's financial statements to US dollars.Staff accountant for CPA Processed payroll, account receivables and payable for various clients.Junior Accountant2000 - 2001WalmartHouston, TXPrepare cashier & customer service change fund drawer moneybags.Process and assemble bank deposits.provided in-house accounting and account management for customers; Accounts Receivable, Accounts Payable, Income tax preparation and planningPrepare daily bank deposits and verify receipt of deposits from bank notifications.. Research customer related issues with purchases.Followed Generally Accepted Accounting Principles to generate, record and reconcile all financial transactions.Demonstrate Attention to detail when reviewing reports, and any financial transactions.EducationBachelor's Degree Accounting1997 - 2000Rutgers, The State University of New JerseyNew Brunswick, NJ  Contact InformationDallas, TX(320) [email protected] PreparationCustomer ServiceTax ServiceCPARevenue GrowthExternal AuditorsBank DepositsAdvise ClientsEnsure CompliancePayroll  Jonathan NicholsTax AdvisorKansas City, MO(850) [email protected] ServicesPayrollRCPAR BlockLLCTrial PreparationCustomer ServiceEnsure ComplianceSpecial Projects  Employment HistoryTax Advisor2011 - PresentCBIZ•Kansas City, MOSet up deductions and fringe benefit codes for payroll clients.Recognized potential audit issues or unusual relationships from basic analysis of the financial statements and communicate them to the team.Limited To Date Payroll processing and compliance services for multinationals outsourcing payroll function from PwC.Guided clients on how to accurately keep financial records and to maintain household budgets.Tax Consultant2010 - 2011H&R Block•Kansas City, MOWorked directly with CFO with state audits and special projects.Recorded Declaration Control Numbers (DCN) on the H&R Block server to inform the IRS.Worked well with tax professionals from different ethnic backgrounds and levels of expertise.Passed the IRS Registered Tax Preparer exam and continue with yearly education requirements returns.Answer phones and assist clients with questions and concerns regarding their tax return.Tax Internship2009 - 2010Jackson Hewitt•Memphis, TNTax services were performed for customers.Consulted tax law handbooks, bulletins, and I.R.S.EducationHigh School Diploma 2009 - 2009 Create My Free ResumeBuild a professional resume in minutes using this template.Create My Resume NowLearn How To Write a Tax Advisor ResumeAt Zippia, we went through countless Tax Advisor resumes and compiled some information about how to optimize them. Here are some suggestions based on what we found, divided by the individual sections of the resume itself.View Tax Advisor Resume Examples And TemplatesTax Advisor Demographics. Compare JobsCompare JobsTax Advisor Gender Statistics. female59.7 %male35.2 %unknown5.1 %Tax Advisor Ethnicity Statistics. White60.8 %Hispanic or Latino16.9 %Black or African American10.7 %Show MoreTax Advisor Foreign Languages Spoken Statistics. Spanish51.0 %Chinese5.2 %German5.2 %Show MoreFind the best Tax Advisor job for youSearchTax Advisor Jobs You Might Like. High Paying Tax Advisor Jobs - $57K and UpSearch jobs near Ashburn, VAWork From Home Tax Advisor JobsFind Online, Remote, Telecommute Tax Advisor JobsEntry Level Tax Advisor JobsLittle to no experience requiredPart Time Tax Advisor JobsPart Time Jobs Hiring NowActively HiringTax Advisor jobs added within last 7 daysNo Degree Tax Advisor JobsSearch jobs with no degree requiredShow More Tax Advisor DemographicsCreate The Perfect ResumeOur resume builder tool will walk you through the process of creating a stand-out Tax Advisor resume.Create My Resume NowTax Advisor Education. Compare JobsCompare JobsTax Advisor Majors. Accounting38.0 %Business26.6 %Finance6.7 %Show MoreTax Advisor Degrees. Bachelors54.4 %Associate19.7 %Masters13.9 %Show MoreCheck Jobs That Match To Your Education. NoneHigh School / GEDAssociateBachelor'sMaster'sDoctorateTop Colleges for Tax Advisors. 1. University of Southern California. Los Angeles, CA • PrivateIn-State Tuition$56,225Enrollment19,548details2. Villanova University. Villanova, PA • PrivateIn-State Tuition$53,308Enrollment6,819details3. Bentley University. Waltham, MA • PrivateIn-State Tuition$49,880Enrollment4,177details4. University of Minnesota - Twin Cities. Minneapolis, MN • PrivateIn-State Tuition$14,760Enrollment31,451details5. University of Illinois at Urbana-Champaign. Champaign, IL • PrivateIn-State Tuition$15,094Enrollment32,974details6. SUNY at Albany. Albany, NY • PrivateIn-State Tuition$10,011Enrollment13,434details7. University of Pennsylvania. Philadelphia, PA • PrivateIn-State Tuition$55,584Enrollment10,764details8. Northwestern University. Evanston, IL • PrivateIn-State Tuition$54,568Enrollment8,451details9. Baylor University. Waco, TX • PrivateIn-State Tuition$45,542Enrollment14,159details10. California Polytechnic State University-San Luis Obispo. San Luis Obispo, CA • PrivateIn-State Tuition$9,816Enrollment21,047detailsShow More Tax Advisor Education RequirementsFind the best Tax Advisor job for youSearchTax Advisor Jobs You Might Like. High Paying Tax Advisor Jobs - $57K and UpSearch jobs near Ashburn, VAWork From Home Tax Advisor JobsFind Online, Remote, Telecommute Tax Advisor JobsEntry Level Tax Advisor JobsLittle to no experience requiredPart Time Tax Advisor JobsPart Time Jobs Hiring NowActively HiringTax Advisor jobs added within last 7 daysNo Degree Tax Advisor JobsSearch jobs with no degree requiredOnline Courses For Tax Advisor That You May Like. Tax Preparation and Law 2021, 2020, 2019 & 2018 - Income Tax4.5(2,115)Income tax preparation Form 1040 and supporting schedules taught by a Certified Public Accountant (CPA)...View Details on UdemyFundamentals of Business Taxes4.4(683)Learn the fundamentals of business taxes and understand the basics of doing taxes for your business...View Details on UdemyFinancial Accounting-Adjusting Entries & Financial Statement4.4(368)Adjusting entry creation, posting adjusting entries to a worksheet, creating financial statements from the trial balance...View Details on UdemyShow More Tax Advisor CoursesJob type you wantFull TimePart TimeInternshipTemporaryTop Skills For a Tax Advisor. Tax Returns, 40.7%Financial Records, 7.5%Small Businesses, 7.5%Financial Statements, 7.3%IRS, 6.2%Other Skills, 30.8%See All Tax Advisor Skills12 Tax Advisor RESUME EXAMPLES. Build a professional tax advisor resume in minutes. Browse through our resume examples to identify the best way to word your resume. Then choose from 12+ resume templates to create your tax advisor resume.Build My Resume NowBest States For a Tax Advisor. Some places are better than others when it comes to starting a career as a Tax Advisor. The best states for people in this position are New York, Massachusetts, Rhode Island, and Connecticut. Tax Advisors make the most in New York with an average salary of $88,100. Whereas in Massachusetts and Rhode Island, they would average $67,169 and $65,748, respectively. While Tax Advisors would only make an average of $65,004 in Connecticut, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four. 1. Rhode IslandTotal Tax Advisor Jobs:201Highest 10% Earn:$124,000Location Quotient:1.4 Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here$65,748Avg. SalaryView 201 Tax Advisor Jobs2. ConnecticutTotal Tax Advisor Jobs:640Highest 10% Earn:$123,000Location Quotient:1.63 Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here$65,004Avg. SalaryView 640 Tax Advisor Jobs3. New YorkTotal Tax Advisor Jobs:1,695Highest 10% Earn:$163,000Location Quotient:1.12 Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here$88,100Avg. SalaryView 1,695 Tax Advisor JobsFull List Of Best States For Tax AdvisorsHow Do Tax Advisor Rate Their Jobs?Top Tax Advisor Employers. RankCompanyZippia ScoreAverage Tax Advisor SalaryAverage Salary11.DLA Piper4.9$216,16122.Pfizer4.8$113,49133.JPMorgan Chase & Co.4.9$104,99244.DTE Energy4.8$92,48555.Ernst & Young4.9$91,93066.PricewaterhouseCoopers4.9$91,275Show MoreTax Advisor Videos. Tax Advisor: What I Do - Karin Schmitz Career Girls Role ModelProtecting Your Retirement Income from Taxes - Ed Slott, CPA Tax AdvisorTax Advisor Related Careers. Become a Certified Public AccountantBecome a Corporate Tax PreparerBecome an Income Tax AdvisorBecome an Income Tax ConsultantBecome an Income Tax ExpertBecome a Licensed Tax ConsultantBecome a Master Tax AdvisorBecome a Tax AgentBecome a Tax AssistantBecome a Tax AssociateBecome a Tax Collection CoordinatorBecome a Tax ConsultantBecome a Tax ExaminerBecome a Tax InternshipBecome a Tax Preparation AssistantTax Advisor Related Jobs. Certified Public Accountant JobsCorporate Tax Preparer JobsIncome Tax Advisor JobsIncome Tax Consultant JobsIncome Tax Expert JobsLicensed Tax Consultant JobsMaster Tax Advisor JobsTax Agent JobsTax Assistant JobsTax Associate JobsTax Collection Coordinator JobsTax Consultant JobsTax Examiner JobsTax Internship JobsTax Preparation Assistant JobsWhat Similar Roles Do. What a Certified Public Accountant DoesWhat a Corporate Tax Preparer DoesWhat a Tax Assistant DoesWhat a Tax Associate DoesWhat a Tax Consultant DoesWhat a Tax Examiner DoesWhat a Tax Preparer DoesWhat a Tax Professional DoesWhat a Tax Specialist DoesResume For Related Jobs. Certified Public Accountant ResumeTax Assistant ResumeTax Associate ResumeTax Consultant ResumeTax Examiner ResumeTax Internship ResumeTax Preparation Assistant ResumeTax Preparer ResumeTax Professional ResumeTax Specialist ResumeWork Force Advisor ResumePrevious:Tax Advisor OverviewNext: Tax Advisor OverviewZippia CareersBusiness and Financial IndustryTax AdvisorUpdated August 18, 2021
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TitleTax Advisor: What Is It? and How to Become One?
Urlhttps://www.ziprecruiter.com/Career/Tax-Advisor/What-Is-How-to-Become
DescriptionLearn what a Tax Advisor is, what they do, and how become one
Date
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H1What Is a Tax Advisor and How to Become One
H2Table of Contents
What Is a Tax Advisor?
How to Become a Tax Advisor
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What Is a Tax Advisor?
How to Become a Tax Advisor
228+ Tax Advisor Jobs in the Ashburn, VA area
You Already Have an Account
BodyWhat Is a Tax Advisor and How to Become One By ZipRecruiter Marketplace Research Team Table of Contents. What Is a Tax Advisor? How to Become a Tax Advisor What Is a Tax Advisor? . A tax advisor works for an accounting firm, a business, or as a private consultant. In this position, your job duties are to minimize the taxes your client has to pay by advising them on what deductions to take and how to report taxes while staying within the boundaries of the law. To succeed in this career, you need to have a thorough understanding of the tax code. A successful tax advisor keeps up to date with changes in the tax code and remains in touch with clients’ financial needs. How to Become a Tax Advisor . To become a tax advisor, you first need to get a bachelor’s degree in finance or business administration. Then, you need to become certified through your state’s accountancy board. You must take a four-part CPA exam to become a tax advisor. To qualify for the exam, you must have taken 150 hours in college credits. Many establishments want you to have at least three years of experience before accepting you as a tax advisor; you can get this experience working for a non-profit to start your career and gain valuable skills. All Jobs Tax Advisor Jobs What Is a Tax Advisor and How to Become One 228+ Tax Advisor Jobs in the Ashburn, VA area . Get new jobs emailed to you daily You Already Have an Account. We're sending an email you can use to verify and access your account. If you know your password, you can go to the sign in page. Close
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TitleHow to Become a Tax Consultant
Urlhttps://www.accounting.com/careers/tax-consultant/how-to-become/
DescriptionHow do tax consultants get their jobs? Learn how to become a tax consultant, including education, credentials, and continuing education
DateDec 8, 2021
Organic Position3
H1How to Become a Tax Consultant
H2Top Online Programs
WHAT SKILLS DO YOU NEED TO BECOME A TAX CONSULTANT?
HOW LONG DOES IT TAKE TO BECOME A TAX CONSULTANT?
WHAT EDUCATION DO YOU NEED TO BECOME A TAX CONSULTANT?
TAX CONSULTANT CAREER DEVELOPMENT AND CREDENTIALS
LEARN MORE ABOUT TAX CONSULTANT CAREERS AND TAKE THE NEXT STEP TODAY
Career and Professional Resources
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H3Certifications and Continuing Education
Credentials and Licensing
H2WithAnchorsTop Online Programs
WHAT SKILLS DO YOU NEED TO BECOME A TAX CONSULTANT?
HOW LONG DOES IT TAKE TO BECOME A TAX CONSULTANT?
WHAT EDUCATION DO YOU NEED TO BECOME A TAX CONSULTANT?
TAX CONSULTANT CAREER DEVELOPMENT AND CREDENTIALS
LEARN MORE ABOUT TAX CONSULTANT CAREERS AND TAKE THE NEXT STEP TODAY
Career and Professional Resources
Recommended Reading
Search top-tier programs curated by your interests
BodyHow to Become a Tax Consultant December 8, 2021 | Accounting.com Staff Are you ready to find a school that's aligned with your interests? Tax consultants use their tax expertise to help their clients make educated financial decisions regarding tax-related issues. Tax professionals prepare tax returns, conduct legal research on tax issues, help with estate planning, and ensure that clients meet tax obligations, which often means they enjoy stable, in-demand careers. The Internal Revenue Service (IRS) estimates that 90% of taxpayers seek help with their taxes, with tax professionals preparing 56% of all tax returns each year. Top Online Programs. Explore programs of your interests with the high-quality standards and flexibility you need to take your career to the next level. If you’ve been asking yourself, “what are the job responsibilities of a tax consultant?” keep reading to learn more about the skills, education, and credentials tax consultants need.WHAT SKILLS DO YOU NEED TO BECOME A TAX CONSULTANT?Have you been wondering, “what does a tax consultant do?” The answer is simple: A successful tax consulting career involves building positive client relationships.Tax consultants attract clients with their social awareness, understanding of customer service, and communication skills. Because tax consultants work with the public, they need to actively listen and ask questions to understand their clients’ tax-related needs. Strong speaking and writing skills help accurately communicate information to clients, coworkers, and others.Working with complex tax information requires an eye for detail and the ability to work with a high degree of accuracy.Critical thinking and complex problem-solving skills are also important in the tax-consulting industry. When working on complicated tax issues, the best tax consultants use logic to identify solutions to a problem. Success in the tax consulting field also requires superior judgement and decision making, an aptitude for mathematics, and the ability to assess performance and take corrective action. Working with complex tax information requires an eye for detail and the ability to work with a high degree of accuracy.Tax consultants use personal computers for most of their work, which requires proficiency in Intuit QuickBooks and Microsoft Office suite.Students can master these competencies by participating in on-the-job training or educational programs. Required skills vary by position, employer, and area of specialization, but the following section covers some general skills and how long it takes to develop them.HOW LONG DOES IT TAKE TO BECOME A TAX CONSULTANT?The amount of time it takes to become a tax consultant varies depending on what type of education or training you pursue. Tax consulting does not require a specific degree or level of formal education. However, earning a degree in accounting, taxation, or a related field can improve your chances of getting a job. Many employers prefer to hire candidates with a bachelor’s degree. Credentialing requirements vary depending on the type of work. Here are a few common steps toward a tax consultant career:Earn a Bachelor’s Degree: Earning a bachelor’s degree in accounting, taxation, or a related field typically takes four years studying full time. Some online programs offer accelerated options that let students graduate more quickly. Most CPA programs include additional coursework to meet state requirements and typically take five years to complete. Tax professionals can also consider earning a master’s degree to make their resumes more competitive.Get Credentials: Not all tax consultants need to earn credentials. However, anyone who prepares a tax return for clients must get a Preparer Tax Identification Number (PTIN) from the IRS. Most credentials take a few months to receive once the applicant meets all requirements. Make sure to consider processing when estimating how long it will take to receive your credential.Tax professionals who work as CPAs or Enrolled Agents (EA) must earn specific credentials. CPAs need a license from their state boards of accountancy, which requires passing the CPA exam. EAs must register with the IRS and pass a three-part special enrollment exam and a background check.Land an Entry-Level Job: The time it takes to receive your first job offer in tax consulting varies. Factors that can influence how long it takes include the number of available jobs in your area, your networking connections, and your qualifications compared to those of other candidates. In some cases, it might take several months before you start working your first job as a tax consultant.Enroll in Continuing Education Classes: CPAs and EAs both need to complete continuing education credits to maintain their credentials. The number of required continuing education credits for CPAs varies by state. EAs must complete 72 continuing education hours every three years. Even tax professionals who work in positions that do not require continuing education should take advantage of opportunities to learn new skills and stay current on new developments in the field.WHAT EDUCATION DO YOU NEED TO BECOME A TAX CONSULTANT?No degree or education can guarantee a career, but completing some formal education in a tax-related field can improve your chances of landing a job.The tax consulting profession does not include any specific educational requirements. Anyone can become a tax consultant, tax preparer, or enrolled agent and offer tax consulting services without holding a specific degree. However, to succeed, tax consultants need a foundational understanding of accounting theory and practice, taxation, personal finance, and federal and state tax laws. They can gain some of this knowledge through on-the-job training and experience.Employers often prefer tax consultants who hold at least a bachelor’s degree.Although not required, many tax consultants earn bachelor’s degrees in accounting or finance. Many tax consultants hold a Certified Public Accountant (CPA) credential, which requires an accredited bachelor’s degree. CPAs must also pass the CPA exam before they can practice accounting. Most states require CPAs to complete advanced coursework beyond the bachelor’s level, and many CPAs earn master’s degrees. Employers often prefer tax consultants who hold at least a bachelor’s degree.Tax consultants who specialize in areas like international tax or corporate tax typically complete specialized education or training to gain expertise in a narrow subfield of tax law. Registering for professional development and continuing education opportunities allows tax professionals to keep their skills relevant and gain new knowledge over the years.TAX CONSULTANT CAREER DEVELOPMENT AND CREDENTIALS. Professionals in the tax consulting field can take advantage of career development education to stay up-to-date on changing tax rules and regulations. Tax consultants can also pursue credentials and licenses to demonstrate their knowledge to prospective employers. Collapse All Expand All Certifications and Continuing Education. The industry does not require tax consultants to hold certifications or complete continuing education classes to qualify for positions. Rather, certifications and continuing education classes provide optional opportunities for tax professionals to enhance their careers and earning power. Professional organizations like the National Society of Tax Preparers, the National Association of Tax Preparers, and the National Society of Accountants offer continuing education and professional development opportunities to members. Tax consultants take classes that explore topics like growing a tax consulting practice, introduction to tax preparation, and updates on federal tax laws. Most organizations offer live and on-demand webinars, online trainings, self-study, and in-person events. Tax consultants who work as CPAs or EAs typically need to complete professional continuing education credits to maintain their licenses. Credentials and Licensing. Tax consultants can usually provide their services without holding any official credentials or licenses. However, some specific job titles do require licensure. CPAs must hold licenses from their state accountancy boards to practice public accounting. Each state sets its own CPA requirements, but all require applicants to pass the CPA exam. EAs must register with the IRS, which typically requires passing the EA exam and a criminal background check. EAs and CPAs must satisfy continuing education requirements to keep their credentials valid. Also, tax consultants who want to prepare tax returns for others must get a PTIN from the IRS. LEARN MORE ABOUT TAX CONSULTANT CAREERS AND TAKE THE NEXT STEP TODAY. Tax Consultant Career OverviewTax Consultant Salary GuideAccounting Degree Programs Career and Professional Resources. National Society of Tax Professionals Founded in 1985 as a nonprofit organization, NSTP represents tax professionals in the U.S. The organization offers continuing education workshops and other events, a blog, and a classified section with tax-related job postings. National Association of Registered Tax Return Preparers A professional organization for tax preparers, NARTRP offers a variety of continuing professional education training opportunities. Members can access more than 20 training videos at any time of day. National Association of Tax Preparers Members who join NATP gain access to continuing education, a community for networking opportunities, and tools and informational resources. NATP’s membership includes 23,000 tax professionals. National Association of Enrolled Agents NAEA represents enrolled agents. The EA credential is the highest license the IRS awards. NAEA provides networking and continuing education opportunities for EAs. National Society of Accountants NSA advocates for accounting and tax professionals. It offers publications through its knowledge center, plus member discounts and networking opportunities. Recommended Reading. Most Affordable Online Accounting Programs 2022. December 21, 2021   |   Alaina McCartney Kick off your finance career with one of these affordable online accounting degrees. Compare the top programs, crunch the numbers, and get the best value. Best Online Accounting Master’s Degree Programs 2022. December 21, 2021   |   Staff Writers A master's in accounting opens the door to in-demand, lucrative careers. Explore our list of the best accounting master's degree programs for 2021. Best Online Bachelor’s Degrees in Accounting 2022. December 21, 2021   |   atatum Bachelor's degrees in accounting can build strong careers. Become an accountant through an accredited, affordable program that leads to CPA certification. Search top-tier programs curated by your interests. Let us know what type of degree you're looking into, and we'll find a list of the best programs to get you there. Close Latest Posts Improving Diversity in C-Suite Positions Top Accounting Graduate Certificates Certified Financial Planning (CFP) How to Improve Diversity in Accounting Hedge Fund Accountant Salary Guide
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Result 5
TitleHow to become a tax preparer: Your complete guide
Urlhttps://tax.thomsonreuters.com/en/insights/articles/how-to-become-a-tax-preparer
DescriptionAre you considering becoming a tax preparer? Then this is the guide for you. Our experts have the answers to all the important questions to help you succeed!
Date
Organic Position4
H1How to become a tax preparer
H2What does a tax preparer do?
What do you need to become a tax preparer?
What exactly is IRS tax preparer certification?
How do you get a PTIN?
Do you need a license to prepare tax returns?
What are the IRS e-file requirements for tax preparers?
What is an Electronic Filing Identification Number (EFIN)?
So, can you tell me how to get an EFIN?
How long does it take to become a tax preparer?
What are the most common tax forms and types of tax returns prepared by a tax preparer?
How much does a tax preparer make? And what’s the average salary for the role?
How much should tax preparers charge for their services?
What does a tax preparer need to prepare tax returns?
What software do tax preparers use?
How do I keep up with new tax law changes?
H3Tax and accounting regions
Sectors
Tax and accounting regions
Sectors
H2WithAnchorsWhat does a tax preparer do?
What do you need to become a tax preparer?
What exactly is IRS tax preparer certification?
How do you get a PTIN?
Do you need a license to prepare tax returns?
What are the IRS e-file requirements for tax preparers?
What is an Electronic Filing Identification Number (EFIN)?
So, can you tell me how to get an EFIN?
How long does it take to become a tax preparer?
What are the most common tax forms and types of tax returns prepared by a tax preparer?
How much does a tax preparer make? And what’s the average salary for the role?
How much should tax preparers charge for their services?
What does a tax preparer need to prepare tax returns?
What software do tax preparers use?
How do I keep up with new tax law changes?
BodyHow to become a tax preparer Tax preparation is a career that is on the rise and brings a necessary and welcome service to the community. But how do you become a tax preparer? What sort of qualifications are needed? What tools are available to make you more productive? And what does a tax preparer do on a day-to-day basis?  What does a tax preparer do? Most tax preparers prepare, file, or assist with general tax forms. Beyond these basic services, a tax preparer can also defend a taxpayer with the IRS. This includes audits and tax court issues. However, the extent of what a tax preparer can do is based on their credentials and whether they have representation rights. In a way, tax preparers are asked to serve two masters – their clients and the IRS. They must assist their clients in complying with the state and federal tax codes, while simultaneously minimizing the client’s tax burden. While they are hired to serve their client, they must also diligently remember their obligation to the IRS and not break any laws or help others file a fraudulent return. What do you need to become a tax preparer? Becoming a tax preparer is a straightforward process involving a few basic requirements. These include: Know-how. For most new tax preparers, learning the ins and outs of the business means acquiring an entirely new professional language. In some cases, this know-how comes in the form of certification. But finding a platform that can boost know-how and assist you with knowledge gaps is critical to success. Technology. As is the case with most professions, having access to the right technology will help you work efficiently and contributes to the general success of your new business. Most tax professional software assists with both know-how and the tools to accomplish the work itself. Clients. This might seem obvious, but you need to attract tax clients to succeed and become profitable. Many preparers start on a small scale – doing individual returns – before moving on to bigger and more complicated matters. Preparer Tax Identification Number. If you want to be paid for preparing tax returns, the first step is applying for – and being issued – a preparer tax identification number (PTIN). What exactly is IRS tax preparer certification? The basic IRS requirement for all paid tax preparers is to pass the suitability check and get issued a PTIN. However, once you start talking about the work of an enrolled agent, there will be additional requirements such as a state license or an electronic filing identification numbers (EFIN). How do you get a PTIN? This process begins on the IRS website and requires annual renewal. However, there is no fee for either the initial registration process or the renewal. Once a PTIN is issued, the tax preparer is required to put this on every single return they prepare. In general, the IRS website includes many helpful solutions and other tips for people beginning this process. Do you need a license to prepare tax returns? While the starting point for any preparer will be the PTIN process, a “license” is not the same thing. To become a preparer, you don’t need a specific license. With the IRS, however, if you want representation rights, you need to be an enrolled agent, CPA, or attorney. However, seven states require a license if you want to prepare in those geographical areas. And while many states call it a “license” it’s very similar to the federal PTIN – both in design and in process. The current states that require a separate credential include: California Connecticut Illinois Maryland Nevada New York Oregon Many states (if not all) exempt this requirement if you are a CPA or have other professional credentials. What are the IRS e-file requirements for tax preparers? . The IRS takes the sanctity of the e-file system very seriously, and it has become an area of increased scrutiny, mainly because this is a high-risk area for potential hacking and fraud. As a result, it’s a little more work for a preparer to complete this process. In many ways, e-file requirements are like acquiring a PTIN. E-file requirements ask for two additional security measures. First, a professional certification (such as a PTIN) is required, as well as an official copy of your fingerprints. Once you’ve submitted the online documents and sent in your fingerprints, you will receive an electronic filing identification number (EFIN). Then you are ready to access the portal to submit e-filings. If a preparer prepares less than ten returns, they are not required to e-file. If they have filed more than ten returns in a given year, they are required to e-file every single return they prepare. While there are some exceptions, they are rare. What is an Electronic Filing Identification Number (EFIN)? An electronic filing identification number (EFIN) is a number assigned by the IRS to preparers who are approved for the federal and state e-file program. Once issued, an EFIN does not expire. However, if you change your Employer Identification Number (EIN) or the name of your firm, you will have to either get a new one or update it through the online portal. It’s important to note: everybody who prepares taxes needs a PTIN. However, only your firm needs an EFIN. One per firm or per physical location is usually required. To put even more simply: you need a PTIN to prepare and an EFIN to e-file. So, can you tell me how to get an EFIN? It’s a 3-step process. Here’s the process to obtain an EFIN: 1.      Create an IRS e-Services account on the IRS website. 2.      Complete and submit your application to become an authorized IRS e-file provider. It can take up to 45 days for the IRS to approve an e-file application, so plan accordingly. All applicants must provide the following: Identification information for your firm  Information about each Principal and Responsible Official in your organization Your e-file provider option (if you are a return preparer and want to e-file on behalf of clients, select Electronic Return Originator, or ERO) If the Principal or Responsible Official is a certified or licensed professional, such as an attorney, CPA, or enrolled agent, they must provide their current professional status information. All other applicants must provide a fingerprint card, which can be arranged by calling the IRS toll-free at 866-255-0654. If you need to be fingerprinted, work with a trained professional. There are commercial services, but your local police station will likely provide this service for a modest fee. Then mail the signed and completed card to the IRS. 3.      Pass a suitability check. After you submit your application and related documents, the IRS will conduct a suitability check on the firm and each person listed on your application as either a Principal or Responsible Official. This may include: a credit check; a tax compliance check; a criminal background check; and a check for prior non-compliance with IRS e-file requirements. Once approved, you will receive an acceptance letter from the IRS with your EFIN. How long does it take to become a tax preparer? The simplest answer to this is: in the time it takes to apply for and receive a PTIN and an EFIN. However, how long it takes to become a seasoned tax preparer is perhaps the more correct question to ask, as the ability to make money and build a career is dependent upon a certain amount of experience and skill. In most cases, it takes about two seasons to learn the basics of tax preparation.  Whether you plan on starting at a firm or becoming a sole practitioner, the career progression looks similar. In the first year, most new preparers will focus on raw data entry. The second year brings a little more autonomy. By the third year, you’re armed with the necessary experience and skills to work as a full-fledged staff preparer. After the initial period of seasoning, it takes about five years to learn the nuances and niche areas of your clients and your practice. In that time, you gain expertise that differentiates you as a tax preparer and allows you to set yourself apart in the market. "We find the people who have done some write-up have the easiest transition to tax prep. We start them out entering W2s and 1099s into UltraTax CS, and then transition to Schedule C and F, etc. We have them print out the organizer, and enter the info on it (not W2s and 1099s) before they enter it into UltraTax CS. It makes it easier for us to review the return, and see where they may have gone wrong, and go over the return with them to point those things out." - UltraTax CS user Lynn Wells of Paul T. Wells CPAs What are the most common tax forms and types of tax returns prepared by a tax preparer? Depending on levels of experience, your client roster, and the specifics of your business, the types of tax returns a preparer will work on can range from an Individual Income Tax Return, Form 1040 to a Corporation Income Tax Return, Form 1120 to interpreting complex partnership agreements. However, most tax forms will break down into two different groups:  Individual forms, such as 1040. Business returns, including corporations, partnerships, trusts, not for profit exempt organizations. Most preparers will usually focus on 1040s/individual tax preparations when starting out. This is generally because they’re easier to prepare and, honestly, easier clients to get. For some preparers, staying 1040 focused is a career choice, doing a little bit of business work as it arises from current clients. However, often tax preparers are looking to get more business work, and their 1040 clients are a bridge to that career goal. Doing individual returns gets cash flow underway. Over time, they can get enough money and clients to transition to a more business-focused client list. How much does a tax preparer make? And what’s the average salary for the role? The amount of money a preparer can make is largely dependent on whether they’re a sole practitioner or work for a public accounting firm, the number of clients they can handle, and the geographical location of their practice. So, while many first-year tax preparers may claim a starting salary around the $50,000, year one staff might be somewhere between $30,000-$40,000 at a different firm. And if you’re serving as an intern, you might not make anything.  While the salaries of most regional firms will be set before you walk through the doors for your interview, the amount of money a sole practitioner can make is limitless (or at least, based on how much work you’re willing to do). So, then the questions become: how many clients can you get? How much work can you get through? What kind of software can boost your efficiency and increase throughput? Some people begin their careers at firms to get the first two years of experience. And then they break away and start a local firm. This allows you to get high-quality training to boost your skills out of the gate. Several national and seasonal businesses also offer training to their preparers. How much should tax preparers charge for their services? For most preparers, this will vary wildly by the region in which they work. So, while there’s no clear cut, silver bullet answer about how much a preparer should charge, there are some tips to get started.  The National Society of Accountants cites the latest data on the average price for a 1040 preparation. Associations and professional groups, including collegiate accounting clubs, can be good resources to determine prices. Most preparers will call around and get quotes from other firms and then use that to make up their pricing system. Once you’ve determined a competitive price for your context, consider whether you want to charge an hourly rate, or price your services with a fixed fee. While an hourly rate may seem more intuitive at first (and potentially less shady), consider what will be the best way to make money when you become efficient. Why would you charge an hourly rate for a 1040 form that might take you 15 minutes to complete? Fixed fee or value billing is not about the time you spend on a client’s preparation but instead focuses on the expertise and efficiency you’ve gained as a professional. It takes the preparer a short amount of time because they are talented and efficient. And that’s what clients are truly paying for – your experience. What does a tax preparer need to prepare tax returns? Tax preparers need to efficiently and securely access and manage confidential information for their clients. As a result, most preparers look for software to manage their workflow effectively and efficiently. Tax software should help preparers in the following ways: Learn. You can’t know everything. There will always be knowledge gaps and questions from clients that you didn’t anticipate. Professional tax software should increase your know-how, the ability to fill knowledge gaps with trusted and meaningful information for your daily work. Something to “unstuck you” when you don’t know how to proceed. Research. Every client is different. And that means every answer you provide will need to be tailored to their specific questions and concerns. A tax research software solution can help get the answers when you need to go deeper and retrieve more information.  Operate. Tax preparation requires a significant amount of day-to-day organization. You need tools to do the work and produce all the necessary forms. From document management solutions to e-filing assistance, tax software should make your operational duties easier, more productive, to do your job with confidence every time. What software do tax preparers use? Thomson Reuters UltraTax CS is a leading professional tax preparation software that automates your entire business – whether for individual tax preparation or business clients. Filled with powerful time-saving tools and features, UltraTax CS gives preparers access to federal, state, and local tax programs including individual, corporate, partnership, estates and trusts, multi-state returns, and many others. UltraTax CS also offers seamless integration with other Thomson Reuters solutions, including CS Professional Suite and Onvio Firm Management, connecting your entire practice and ensuring that you’ll never lose time (or money) doing a task manually. From cloud computing to advanced data sharing and paperless processing, UltraTax CS meets all your tax workflow needs with a customizable, end-to-end solution. How do I keep up with new tax law changes? Keeping up with tax law changes is imperative for both new and experienced preparers. As a result, most preparers invest some time each day checking on any IRS changes, technical corrections, or any other state or local changes that might impact their business. An excellent first stop is the IRS website, which is full of publications and instructions that will help new and experienced preparers navigate changes to the tax code, as well as commonly asked questions and other useful tips. Checkpoint Edge from Thomson Reuters is another resource for tax professionals who are looking to do their jobs with more accuracy, confidence, and daily news updates. Checkpoint Edge provides you with up-to-date research materials, editorial insight, productivity tools, online learning, and marketing resources that add value to your firm immediately.   Alternatively, if you’re on a tight budget, a few well-chosen tax books may be sufficient to begin with. "Understand that you cannot possibly know every tax law ever written, especially in times of sweeping tax law changes as we are experiencing today. Make yourself valuable by honing your tax research skills. If you don't know the answer, you must know how to find the answer." - UltraTax CS user Kathleen Sheahan of Professional Management of Milwaukee, Inc Thanks to our subject matter experts Jordan Kleinsmith, Mo Arbas, and Jennifer J. Paillon, Esq., MPA, LL.M. in Taxation, for their input into this article. Learn more about UltraTax CS Professional tax software for tax preparers and accountants Learn more
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Result 6
TitleHow to Become a Tax Advisor: Education and Career Roadmap
Urlhttps://bestaccreditedcolleges.org/articles/how-to-become-a-tax-advisor-education-and-career-roadmap.html
DescriptionProspective students searching for How to Become a Tax Advisor: Education and Career Roadmap found the following related articles, links, and information useful
DateOct 20, 2021
Organic Position5
H1How to Become a Tax Advisor: Education and Career Roadmap
H2Perfect School Search
10 Popular Schools
Should I Become a Tax Advisor?
Career Requirements
Popular Schools
10 Popular Schools
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H3Step 1: Earn a Bachelor's Degree
Step 2: Get Your Credentials
Step 3: Gain Experience and Advance
Step 4: Maintain Your Credentials
Related to How to Become a Tax Advisor: Education and Career Roadmap
1 Purdue University Global
2 Bryant & Stratton College
3 Southern New Hampshire University
4 Florida Tech
5 Liberty University
6 Syracuse University
7 Herzing University
8 Grand Canyon University
9 Capella University
10 Strayer University
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BodyHow to Become a Tax Advisor: Education and Career Roadmap Oct 20, 2021 Show Me Schools View 10 Popular Schools  » Should I Become a Tax Advisor? A tax advisor, sometimes referred to as a tax preparer or an accountant, helps people and organizations complete their tax returns. This can entail analyzing and extracting information from financial documents such as wage, unemployment, and mortgage interest statements. Travel to meet with clients might be required. Tax advisors can either work independently, for the government, or for a firm. Salaries depend on degree level; however, the U.S. Bureau of Labor Statistics collects information regarding the salaries of accountants and auditors in general, which are listed below. Career Requirements. Degree Level At least a bachelor's degree for CPAs, no degree required for EAs or tax preparers Degree Field Accounting or taxation; a law degree is also acceptable Licensure Enrolled Agents need to meet Internal Revenue Service (IRS) regulations; CPAs need to be licensed by a state accountancy board; all tax advisors submitting tax returns need a PTIN Experience At least three years of tax experience are required Key Skills Strong verbal and written communication skills, knowledge of federal and state tax laws, math proficiency, attention to detail and analytical thinking skills, accounting, tax preparation and financial analysis software, such as Intuit Quicken and Sync Essentials Trade Accountant, project management software, spreadsheets Salary (2014) $65,940 (median salary for accountants and auditors) Sources: U.S. Bureau of Labor Statistics, National Association of Enrolled Agents, ONet OnLine, Internal Revenue Service Step 1: Earn a Bachelor's Degree. Tax advisors commonly hold at least a bachelor's degree in accounting, taxation, or a related field of study. A bachelor's degree in accounting, for example, might include coursework in business taxation, fraud examination, non-profit accounting, and federal taxation. These programs also tend to offer internships as electives. Some accounting programs are specifically geared towards students who want to become CPAs. These programs generally consist of 150 semester hours in order to fulfill education requirements set by state accountancy boards and take five years to complete. Tax advisors who take the EA path to this career are not required to have postsecondary training, though employers tend to prefer applicants who hold undergraduate degrees. Success Tip:. Consider earning a master's degree. While a 5-year accounting bachelor's can qualify individuals for CPA licensure, some aspiring tax advisors earn master's degrees in order to fulfill state education requirements. In fact, the U.S. Bureau of Labor Statistics reveals that some employers prefer accounting professionals who hold graduate degrees. Step 2: Get Your Credentials. Tax advisors typically qualify for this career by becoming EAs or CPAs. The requirements for becoming a CPA are set by each state's Board of Accountancy, though the process generally involves passing a 4-part national CPA exam after finishing 150 college hours of coursework in accounting or a related field. Those who choose to become EAs must register with the IRS. Earning this credential usually requires the passage of a background check and the 3-part Special Enrollment Exam, though some applicants who have worked in a taxation-related position for the IRS may bypass these requirements. Candidates must also attain a Preparer Tax Identification Number, which tax advisors must include on all tax returns they prepare. Success Tip:. Take a prep course. Future tax advisors can increase their chances of passing the CPA or EA exams by studying beforehand. The National Association of Tax Professionals offers exam review courses for aspiring EAs and boasts a 92% passage rate for exam-takers who attend such courses. Additionally, state-specific CPA organizations and some colleges offer CPA exam review courses. Step 3: Gain Experience and Advance. Tax advisors can gain experience in the field by serving as an accountant or an auditor for a private business, non-profit organization, or accounting firm. They could also work for the IRS or a state revenue department. After gaining a few years of experience, these workers may then qualify for employment as an advisor. In fact, employers looking for tax advisors or preparers tend to require at least three years of experience related to taxation. Step 4: Maintain Your Credentials. Most states require CPAs to maintain licensure by earning continuing education credits. The number of credits required varies by state. For example, New York requires CPAs to complete 24-40 contact hours each year, depending on the topics studied. EAs are required to maintain their credentials every three years by completing 72 continuing education hours. Success Tip:. Join the National Association of Tax Professionals (NATP). The NATP is the premier national organization for tax professionals offering networking events and continuing education options for their members. Next: View Schools Created with Sketch. Link to this page Related to How to Become a Tax Advisor: Education and Career Roadmap . Related Articles Most Recent Articles Popular Articles Related Q&A Financial Advisor Education Tax Certification Tax Classes Online Tax Course Income Tax Certification Tax Examiner: Employment Info & Requirements Read on to learn what tax examiners do. Find out what kind of education and training is required for employment. Get the... Tax Preparer Certification Requirements Tax preparers can seek voluntary certification with the Internal Revenue Service (IRS). Get some quick facts about typical... How to Be a Service Advisor: Step-by-Step Career Guide Learn how to become a service advisor. Research the education requirements, training information and experience required for... Become a Farm Management Advisor: Education and Career Roadmap Explore the education and experience requirements for farm management advisors, and learn about the duties and roles these... 10 Questions to Ask an Enrollment Advisor Tax School California Tax Schools Academic Advisor: Job Description, Duties and Requirements Tax Filing Tips for Returning College Students Become an Academic Advisor: Education and Career Roadmap MBA Vs. MPA: What's the Difference? Master in Health Sciences: Health Education Degree Overview Family Readiness Support Assistant: Job Description & Requirements Master of Business Administration (MBA): Management Degree Overview Resident Advisor: Job Description and Salary Security Advisor: Job Description, Duties and Requirements Marketing Jobs in the Hospitality Industry Is a PhD in Finance Worth It? Executive Director Vs President in a Non-Profit Hair Dresser College Online Graduate Gis Degree Programs with Course Information Scholarships for a Masters Degree in Counseling How to Find Them 7 Universities Offering Free Natural Sciences Courses Online Online Web Design Courses and Classes Overview Online Schools with Religion Degrees How to Choose Surgeon Courses What Field of Study or Degree Teaches You About Tax Evasion? Is NASM Certification Tax Deductible? Is a PMP Certification Tax Deductible? How Can I Get a Business Tax Certificate? Are MBA Costs Tax Deductible? Are MBA Fees Tax Deductible in California? How Much Does a Financial Advisor Make in Denver, Colorado? How Much Does a Tax Lawyer Make a Year? How Much Does a Financial Advisor Make in a Year? What Degree Do I Need to Be a Tax Accountant? Popular Schools . The listings below may include sponsored content but are popular choices among our users. An admission advisor from each school can provide more info about: programs & curriculum career opportunities tuition & financial aid admissions & starting dates 1 Purdue University Global . School Info Minimum eligibility requirements: Must be a high school graduate or have completed GED. School locations: Online Learning Program Info Online Programs Master MS in Accounting- Tax MS in Accounting MS in Accounting - Audit MS in Accounting - Government MS in Accounting - Finance MBA - Finance Bachelor BS in Accounting - Tax Accountancy BS in Accounting - Managerial Accountancy BS in Accounting - Auditing and Forensic Accountancy BS in Accounting BS in Accounting - Public and General Accountancy BS in Finance - Accelerated MS in Finance Associate AAS in Accounting AAS in Business Administration AAS in Business Administration - Office Management Non-Degree Executive Leader Graduate Certificate Get Started with Purdue University Global 2 Bryant & Stratton College . School Info Minimum eligibility requirements: Must be a high school graduate or have completed GED School locations: Online Learning Program Info Online Programs Bachelor BBA in General Management Associate AAS in Accounting AAS in Business Non-Degree Accounting Assistant Diploma Business Assistant Diploma Get Started with Bryant & Stratton College 3 Southern New Hampshire University . School Info Minimum eligibility requirements: Must be a high school graduate or have completed GED School locations: Online Learning Program Info Online Programs Master MS in Accounting - Taxation MBA in Accounting MS in Accounting MS in Accounting - Management Accounting MS in Accounting - Auditing MS in Accounting - Finance Bachelor BS in Accounting BS in Business Studies - Accounting BS in Business Studies - Org Leadership BS Finance BS in Finance - Financial Planning BS in Business Studies - Business Finance Associate AS in Accounting AS in Business Administration Get Started with Southern New Hampshire University 4 Florida Tech . School Info School locations: Online Learning Program Info Online Programs Master MBA/Accounting MBA/Accounting & Finance MBA/Finance MBA/Management MBA Get Started with Florida Tech 5 Liberty University . School Info Minimum eligibility requirements: Must be a high school graduate or have completed GED School locations: Online Learning Program Info Online Programs Doctorate DBA: Accounting DBA: Finance Doctor of Business Administration: Executive Coaching - Project Doctor of Business Administration: Tourism Management - Project Master MS: Accounting: Taxation MS in Accounting MBA: Accounting MS: Accounting: Business MS: Accounting: Leadership MBA: General (36-hour) Bachelor BS: Accounting BS: Information Systems: Accounting Information Systems BS: Business Administration BS: Business Administration: Automotive Dealership Management BS: Business Administration: Communications BS: Business Administration: Data Analytics Associate AA: Accounting AA: Business Non-Degree CTG: Business Administration Get Started with Liberty University 6 Syracuse University . School Info School locations: New York (1 campus) Program Info Online Programs Master Masters in Accounting Masters in Business Administration Get Started with Syracuse University 7 Herzing University . School Info Minimum eligibility requirements: Must be a high school graduate or have completed GED School locations: Online Learning Program Info Online Programs Master MBA Dual Concentration: Accounting & Healthcare Mgmt. MBA Dual Concentration in Accounting & Technology Management Master of Business Administration MBA Dual Concentration in Accounting & Human Resources MBA Dual Concentration in Accounting & Project Management MBA Dual Concentration in Business Mgmt & Project Mgmt Bachelor BS in Accounting BS in Business Administration Associate Associate of Science - Accounting Associate of Science - Business Studies AS in Business Administration Non-Degree Diploma in Bookkeeping and Payroll Accounting PMCAF- Post Master's Certificate in Accounting and Finance Get Started with Herzing University 8 Grand Canyon University . School Info Minimum eligibility requirements: Must be a high school graduate or have completed GED School locations: Online Learning Program Info Online Programs Master MBA in Accounting MBA in Accounting MBA in Finance Master of Business Administration MBA and MS in Leadership MBA in Leadership Bachelor BS in Accounting BS in Business for Secondary Education BS in Finance and Economics B.S. in Finance BS in Business Administration Get Started with Grand Canyon University 9 Capella University . School Info Minimum eligibility requirements: Must complete an application online and submit transcripts for their highest degree earned. School locations: Online Learning Program Info Online Programs Doctorate PhD - Business Management: Accounting PhD - Business Management Master MBA - Accounting and Finance (Self-Designed) MBA MBA (Self-Designed) Bachelor BS - Business: Accounting BS - Business: Accounting CPA BS - Business: Finance BS - Business Administration Get Started with Capella University 10 Strayer University . School Info Minimum eligibility requirements: Must be a high school graduate or have completed GED School locations: Online Learning Program Info Online Programs Master MS in Accounting - Taxation Concentration MS in Accounting - Public Accounting Concentration MS in Accounting - Corporate Accounting MS in Accounting - International Accounting MBA - Accounting Concentration Jack Welch Executive Master of Business Administration Bachelor BBA - Accounting BS in Accounting BBA - Finance Concentration BBA - Management Concentration BBA - Social Media Marketing Associate AA in Accounting AA in Business Administration Non-Degree Diploma in Acquisition & Contract Management Grad Cert in Finance & Accounting Diploma in Acquisition and Contract Management Get Started with Strayer University Related to How to Become a Tax Advisor: Education and Career Roadmap . Related Articles Most Recent Articles Popular Articles Related Q&A Financial Advisor Education Tax Certification Tax Classes Online Tax Course Income Tax Certification Tax Examiner: Employment Info & Requirements Read on to learn what tax examiners do. Find out what kind of education and training is required for employment. Get the... Tax Preparer Certification Requirements Tax preparers can seek voluntary certification with the Internal Revenue Service (IRS). Get some quick facts about typical... How to Be a Service Advisor: Step-by-Step Career Guide Learn how to become a service advisor. Research the education requirements, training information and experience required for... Become a Farm Management Advisor: Education and Career Roadmap Explore the education and experience requirements for farm management advisors, and learn about the duties and roles these... 10 Questions to Ask an Enrollment Advisor Tax School California Tax Schools Academic Advisor: Job Description, Duties and Requirements Tax Filing Tips for Returning College Students Become an Academic Advisor: Education and Career Roadmap Is a PhD in Engineering Worth It? Best Catholic Business Schools Project Director Vs. Project Manager Medical Careers in the Air Force Resident Advisor: Job Description and Salary Security Advisor: Job Description, Duties and Requirements Careers in DNA Analysis: Job Options and Degree Requirements Dental Assistant Vs. Dental Hygienist: Differences & Duties Data Warehousing Degree Program Information Performing Arts Introduction to Acting and Performing Arts Adult Education Programs Bachelors Degree in American Studies Program Overview Navy Rotc Colleges in Maryland Masters in Public Policy Lab Tech Training Online Cake Decorating Classes and Training Programs Top Schools for Legal Support Services What Field of Study or Degree Teaches You About Tax Evasion? Is NASM Certification Tax Deductible? Is a PMP Certification Tax Deductible? How Can I Get a Business Tax Certificate? Are MBA Costs Tax Deductible? Are MBA Fees Tax Deductible in California? How Much Does a Financial Advisor Make in Denver, Colorado? How Much Does a Tax Lawyer Make a Year? How Much Does a Financial Advisor Make in a Year? What Degree Do I Need to Be a Tax Accountant? 10 Popular Schools. The listings below may include sponsored content but are popular choices among our users. 1 Purdue University Global MS in Accounting- Tax MS in Accounting MS in Accounting - Audit MS in Accounting - Government MS in Accounting - Finance MBA - Finance BS in Accounting - Tax Accountancy BS in Accounting - Managerial Accountancy BS in Accounting - Auditing and Forensic Accountancy BS in Accounting BS in Accounting - Public and General Accountancy BS in Finance - Accelerated MS in Finance AAS in Accounting AAS in Business Administration AAS in Business Administration - Office Management Executive Leader Graduate Certificate 2 Bryant & Stratton College BBA in General Management AAS in Accounting AAS in Business Accounting Assistant Diploma Business Assistant Diploma View more 3 Southern New Hampshire University MS in Accounting - Taxation MBA in Accounting MS in Accounting MS in Accounting - Management Accounting MS in Accounting - Auditing MS in Accounting - Finance BS in Accounting BS in Business Studies - Accounting BS in Business Studies - Org Leadership BS Finance BS in Finance - Financial Planning BS in Business Studies - Business Finance AS in Accounting AS in Business Administration View more 4 Florida Tech MBA/Accounting MBA/Accounting & Finance MBA/Finance MBA/Management MBA View more 5 Liberty University DBA: Accounting DBA: Finance Doctor of Business Administration: Executive Coaching - Project Doctor of Business Administration: Tourism Management - Project MS: Accounting: Taxation MS in Accounting MBA: Accounting MS: Accounting: Business MS: Accounting: Leadership MBA: General (36-hour) BS: Accounting BS: Information Systems: Accounting Information Systems BS: Business Administration BS: Business Administration: Automotive Dealership Management BS: Business Administration: Communications BS: Business Administration: Data Analytics AA: Accounting AA: Business CTG: Business Administration 6 Syracuse University Masters in Accounting Masters in Business Administration 7 Herzing University MBA Dual Concentration: Accounting & Healthcare Mgmt. MBA Dual Concentration in Accounting & Technology Management Master of Business Administration MBA Dual Concentration in Accounting & Human Resources MBA Dual Concentration in Accounting & Project Management MBA Dual Concentration in Business Mgmt & Project Mgmt BS in Accounting BS in Business Administration Associate of Science - Accounting Associate of Science - Business Studies AS in Business Administration Diploma in Bookkeeping and Payroll Accounting PMCAF- Post Master's Certificate in Accounting and Finance View more 8 Grand Canyon University MBA in Accounting MBA in Accounting MBA in Finance Master of Business Administration MBA and MS in Leadership MBA in Leadership BS in Accounting BS in Business for Secondary Education BS in Finance and Economics B.S. in Finance BS in Business Administration View more 9 Capella University PhD - Business Management: Accounting PhD - Business Management MBA - Accounting and Finance (Self-Designed) MBA MBA (Self-Designed) BS - Business: Accounting BS - Business: Accounting CPA BS - Business: Finance BS - Business Administration View more 10 Strayer University MS in Accounting - Taxation Concentration MS in Accounting - Public Accounting Concentration MS in Accounting - Corporate Accounting MS in Accounting - International Accounting MBA - Accounting Concentration Jack Welch Executive Master of Business Administration BBA - Accounting BS in Accounting BBA - Finance Concentration BBA - Management Concentration AA in Accounting AA in Business Administration Diploma in Acquisition and Contract Management View more Show more schools… Find your perfect school. What is your highest level of education? Select highest level of education Some High School High School Diploma / GED Some college Associate degree Bachelor's degree Master's degree or Higher × Answer a few questions to see to see schools . schools. Searching schools... × Created with Sketch. Link to this page . Link to this page How to Become a Tax Advisor: Education and Career Roadmap How to Become a Tax Advisor: Education and Career Roadmap Copy to clipboard MLA Bibliography: "How to Become a Tax Advisor: Education and Career Roadmap." Best Accredited Colleges, 20 Oct 2021 published. Web. 13 Jan 2022 accessed. Bibliography: "How to Become a Tax Advisor: Education and Career Roadmap." Best Accredited Colleges, 20 Oct 2021 published. Web. 13 Jan 2022 accessed. Copy to clipboard In Text: (How to Become a Tax Advisor: Education and Career Roadmap.) (How to Become a Tax Advisor: Education and Career Roadmap.) Copy to clipboard APA Bibliography: Best Accredited Colleges / How to Become a Tax Advisor: Education and Career Roadmap. (2021, Oct 20 of publication). Retrieved from https://bestaccreditedcolleges.org/articles/how-to-become-a-tax-advisor-education-and-career-roadmap.html Bibliography: Best Accredited Colleges / How to Become a Tax Advisor: Education and Career Roadmap. (2021, Oct 20 of publication). Retrieved from https://bestaccreditedcolleges.org/articles/how-to-become-a-tax-advisor-education-and-career-roadmap.html Copy to clipboard In Text: (How to Become a Tax Advisor: Education and Career Roadmap.) (How to Become a Tax Advisor: Education and Career Roadmap.) Copy to clipboard
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Result 7
TitleWhat Is a Tax Advisor and How Do You Choose One? - TheStreet
Urlhttps://www.thestreet.com/personal-finance/education/tax-advisor-14645141
DescriptionDon't choose a tax advisor until you understand what a tax specialist does - and how that advisor meets your unique tax needs
DateJul 11, 2018
Organic Position6
H1What Is a Tax Advisor and How Do You Choose One?
H2How to Find a Tax Advisor
Why You Need a Tax Advisor
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H3Make sure to vet your tax advisor
Make experience a priority
Look into two-in-one advisors
Make sure you're clear on fee structure
H2WithAnchorsHow to Find a Tax Advisor
Why You Need a Tax Advisor
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Intel, Nvidia, AMD Get Boost From Record TSMC Profits, Bullish Chip Demand Forecast
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BodyWhat Is a Tax Advisor and How Do You Choose One?A good tax advisor can mean the difference between you or Uncle Sam pocketing your money. Here's how to choose a tax specialist who'll tip the scales in your favor.Author:Brian O'ConnellPublish date:Jul 11, 2018 10:54 AM EDTA good tax advisor can mean the difference between you or Uncle Sam pocketing your money. Here's how to choose a tax specialist who'll tip the scales in your favor.A tax advisor, also known as an enrolled tax agent or certified public accountant, is an accounting professional who specializes in the complex U.S. tax code, and who uses that knowledge to help taxpayers minimize their tax burden to Uncle Sam.There are differences between the various classes of tax advisors, although each tax professional can help consumers make sense of their taxes.Enrolled agents: Specially trained enrolled tax agents must pass a rigorous test and meet annual industry regulatory requirements to meet and sustain their professional credentials. Enrolled agents are licensed by the federal government, and are fully approved to represent clients before the I.R.S. They also provide general consumer and business tax services like preparing income taxes and offering specialized tax planning advice.Certified public accounts (CPA): A certified public accountant shares many of the same attributes as an enrolled agent, but with a key distinction. While enrolled agents are licensed by the federal government, a CPA is licensed by the state where they set up shop, and must complete 150 hours of undergraduate and/or graduate school study and clear a CPA test given by the American Institute of CPA's.Professionally credentialed tax advisors can work in a variety of business models. Some run their own offices, some work for large corporations and tax-preparation chains, and some branch out to become certified financial planners. Most tax advisors who work with the general public charge by completed tax return, or on a service-by-service basis (like after handling an estate case or helping a customer start a small business.)How to Find a Tax Advisor. No matter which type of tax advisor you choose, finding one isn't difficult. You can either opt for word-of-mouth (asking co-workers, neighbors, family and friends for recommendations) or through industry trade groups.To search for an enrolled agent, head straight to the National Association of Enrolled Agents.To search for a CPA, head straight to the Boards of Accountancy's CPAVerify online database.To search for a certified financial planner who is a credentialed CPA, head straight to the AICPA's "Credential Directory" on the web.Why You Need a Tax Advisor. A good, credentialed tax advisor can save you plenty of cash that would otherwise go into Uncle Sam's pockets.There's a good reason for that sentiment - tax advisors possess the proficiency to understand the massive, complicated and often confusing U.S. tax code.The actual size of the U.S. tax code is 2,600 pages long, although accompanying explanations and all past tax statutes push that number up to 70,000 pages. Buried in those pages are both trap doors and tax breaks that average Americans likely wouldn't recognize, but a professional tax advisor would.TheStreet Recommends. INVESTINGMSSmall Potatoes: E*Trade Pays $350K Fine in FINRA Settlement. 9 minutes agoINVESTINGTSLATesla's Cybertruck May Not Actually Happen. 10 minutes agoTECHNOLOGYPCs Make Their Comeback as Pandemic Changes How We Work. 13 minutes agoAside from actual tax returns, a tax advisor can also steer individuals and businesses to tax-advantaged money moves in key areas like retirement, estate planning, investment management, and small business planning.In addition, major life events, like a marriage, the birth of a child, or buying a home can also be scenarios where consumers could leave money on the table if they don't consult with a professional tax advisor.How to Get the Most Out of Your Tax Advisor. How do you choose the best professional tax advisor for you?Start with your own unique goals and needs. For example, if your tax needs are fairly basic (i.e., you generally only need help with your tax return preparation), any tax advisor will suffice.If your needs are more complicated - you're starting a small business, you're behind on your taxes to the I.R.S., or you're about to retire, for example - you likely would benefit from a seasoned tax advisor who's been around the block and knows how to expertly handle your tax situation.That said, there are a few unifying factors that go into your tax advisor selection process that fit no matter what tax advisor you're considering:Make sure to vet your tax advisor. Unfortunately, there's been an uptick in shady, fly-by-night tax preparers in recent years. So, job one is to thoroughly research a tax advisor. Ask for professional credentials and references - any tax advisor who can't deliver on either front should be dropped from your list. Also, check your local Better Business Bureau for any record of complaints against a specific tax advisor.Make experience a priority. While there are plenty of smart, newly minted credentialed tax advisors across the U.S., experience should be emphasized in your search. Having a tax advisor who has gone toe-to-toe with the I.R.S., or who has specific expertise in your area of tax need, is a huge benefit. While there is no hard-and-fast number when it comes to years of experience, your vetting process should answer the question of whether your candidate has the seasoned experience you need to handle your tax situation.Look into two-in-one advisors. Again, choosing the right individual tax specialist is the name of the game when looking for tax help. But choosing a tax advisor who is also a certified financial planner can give you a more balanced approach to how taxes fit into your overall personal financial situation. Your investments, retirement savings, home mortgage costs, college savings (among other key financial household issues) come into play, tax-wise, and a good, well-rounded CPA/CFP could prove invaluable to you over the years.Make sure you're clear on fee structure. Depending on your tax needs, a tax advisor will likely charge you on a sliding scale - the more help you need, the more you'll pay. Typically, tax advisors charge a lump sum for services rendered. But some tax professionals may also charge by the hour, by the tax return completed, or even by a percentage of your assets in play (like a financial planner typically charges.) Make sure to ask any tax advisor about fees before moving forward.Make no mistake, tax advisors are not only for the wealthy. If you have a home, retirement savings, a family, and/or you file income taxes, you'll likely benefit from the help of a professional tax advisor.MARKETSOEXDALTSMStock Market Today - 1/13: Boeing Lifts Dow; TSMC Boosts Tech; Tesla, Ford Active. By Martin BaccardaxMARKETSDALAALUALDelta Air Lines Stock Jumps After Q4 Profit Beat Even As Omicron Dents Recovery Timeline. By Martin BaccardaxMARKETSFTSLAFord Stock Gains On Tesla Cybertruck Delay Report, Deutsche Bank Price Target Boost. By Martin BaccardaxMARKETSTSMNVDAINTCIntel, Nvidia, AMD Get Boost From Record TSMC Profits, Bullish Chip Demand Forecast. By Martin BaccardaxMARKETSBABoeing Stock Leaps On Report 737 MAX To Return To Service In China Later This Month. By Martin BaccardaxINVESTINGQSRSBUXMCDBurger King Breakfast: Sandwich Aims to Unseat McDonald's, Wendy's. By Daniel KlineINVESTINGSPCEAMZNVirgin Galactic Plans to Go Deeper into... Debt. By M. 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Result 8
TitleTax Advisor Definition
Urlhttps://www.investopedia.com/terms/t/taxadvisor.asp
DescriptionThe services of tax advisors are usually retained in order to minimize taxation while remaining compliant with the law in complicated financial situations
Date
Organic Position7
H1Tax Advisor
H2What Is a Tax Advisor?
Understanding a Tax Advisor
Tax Advice and Regulation
H3Key Takeaways
Article Sources
Related Terms
Related Articles
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When Should You Hire a Financial Advisor?
Reasons to File an Early Tax Return
The Difference Between a Financial Planner and a Financial Advisor
H2WithAnchorsWhat Is a Tax Advisor?
Understanding a Tax Advisor
Tax Advice and Regulation
BodyTax Advisor By Julia Kagan Full Bio Julia Kagan has written about personal finance for more than 25 years and for Investopedia since 2014. The former editor of Consumer Reports, she is an expert in credit and debt, retirement planning, home ownership, employment issues, and insurance. She is a graduate of Bryn Mawr College (A.B., history) and has an MFA in creative nonfiction from Bennington College. Learn about our editorial policies Updated December 16, 2020 Reviewed by Ebony Howard Reviewed by Ebony Howard Full Bio Ebony Howard is a certified public accountant and a QuickBooks ProAdvisor tax expert. She has been in the accounting, audit, and tax profession for more than 13 years, working with individuals and a variety of companies in the health care, banking, and accounting industries. Learn about our Financial Review Board Financial Advisor Financial Advisor Guide Continuing Education Financial Advisor Careers Financial Planning Portfolio Construction Practice Management What Is a Tax Advisor? . A tax advisor is a financial expert with advanced training and knowledge of tax accounting and tax law. The services of a tax advisor are usually retained in order to minimize taxes payable while remaining compliant with the law in complicated financial situations. Tax advisors can include Certified Public Accounts (CPAs), tax attorneys, enrolled agents, and some financial advisors. A tax advisor may also be known as a tax consultant. Key Takeaways. A tax advisor is a financial professional who provides advice on strategies to minimize taxes owed while staying within the scope of the law and regulation. Tax advisors may be trained as accountants, lawyers, or financial advisors, or may work as a team consisting of two or more types of professionals. Regardless of training, tax advisors are well-versed and up-to-date in matters of tax law and both IRS and state tax guidelines. Understanding a Tax Advisor . A taxpaying entity, such as an individual, partnership, corporation, trust, etc. that has a complex financial situation (e.g., complex investments and deductions) can seek out the expertise of a tax advisor to help minimize the amount of taxes to be paid to the taxing authorities. Depending on the taxpayer’s situation, the advice and services a tax advisor renders will differ. An individual planning for retirement will get different advice from an entrepreneur looking to set up shop. Likewise, a real estate investor will probably have a different tax need from a commodity trader. A tax advisor’s dealings with a company looking to merge with or acquire another company may vary from their professional relationship with an estate executor seeking to minimize estate taxes. Because tax advisors are well versed in tax laws and IRS guidelines, businesses may retain their services to represent the businesses before tax authorities and courts in order to resolve issues relating to tax. Tax advisors understand the laws regulating individual and business taxes and are, therefore, instrumental in guiding taxpayers on how to comply with federal, state, and local tax rules. Advisors are required to stay up-to-date on the latest federal and state tax requirements so as to be effective when providing advice on current tax topics. Tax advisors may work for an agency or be self-employed. Either way, they are tasked with finding efficient ways for clients to legally lower tax liability, compute taxes on diverse investment portfolios, and find the right deductions and credits applicable, etc. They can also prepare and file tax returns for their clients. A taxpayer who has experienced a major life event, such as the death of a spouse, marriage, divorce, the birth or adoption of a child, the purchase of a new home, the loss of a job, inheritances, and more, would be smart to hire the services of a tax advisor. Tax Advice and Regulation . Tax advisors and preparers are regulated but not licensed by the Internal Revenue Service (IRS). In Treasury Department Circular No. 230, Reg. 10.33(a) of the circular it outlines the duties and ethical standards of tax advisors.  There can be penalties levied and disciplinary action taken for failing to follow the standards outlined by the IRS—for example, failing to disclose the identity of the preparer on the return, failing to give the taxpayer a copy of the return, and negligence in preparing the return. Article Sources. Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy. Internal Revenue Service. "Treasury Department Circular No. 230, Regulations Governing Practice before the Internal Revenue Service." Page 24. Accessed Dec. 16, 2020. Take the Next Step to Invest Advertiser Disclosure × The offers that appear in this table are from partnerships from which Investopedia receives compensation. This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace. Service Name Description Related Terms. What Is Tax Avoidance? Tax avoidance is the use of legal methods to reduce the amount of income tax that an individual or business owes. more What Is a Robo-Advisor? Robo-advisors are digital platforms that provide automated, algorithm-driven financial planning services with little to no human supervision. more What Does Suitable (Suitability) Mean in Finance? An investment must meet the suitability requirements outlined in FINRA Rule 2111 prior to being recommended by a firm to an investor. more What Is a Fiduciary? A fiduciary is a person or organization that acts on behalf of a person or persons and is legally bound to act solely in their best interests. more Investment Advisers Act of 1940 Definition The Investment Advisers Act of 1940 is a U.S. federal law that defines the role and responsibilities of an investment advisor/adviser. more Family Offices Definition Family offices are private wealth management advisory firms that serve ultra-high-net-worth individuals. more Partner Links Related Articles. Financial Advisor Careers An Introduction to the Profession of Fiduciary Advisor. Practice Management Tax Tips For Financial Advisors . Estate Planning What Is a Will and Why Do I Need One Now? Financial Advisor When Should You Hire a Financial Advisor? Income Tax Reasons to File an Early Tax Return. Financial Advisor The Difference Between a Financial Planner and a Financial Advisor. About Us Terms of Use Dictionary Editorial Policy Advertise News Privacy Policy Contact Us Careers California Privacy Notice # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
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Result 9
TitleUnderstanding Tax Return Preparer Credentials and Qualifications | Internal Revenue Service
Urlhttps://www.irs.gov/tax-professionals/understanding-tax-return-preparer-credentials-and-qualifications
DescriptionUnderstanding Tax Return Preparer Credentials and Qualifications
DateOct 15, 2021
Organic Position8
H1Understanding Tax Return Preparer Credentials and Qualifications
H2File
Pay
Refunds
Credits & Deductions
Forms & Instructions
H3More In Tax Pros
H2WithAnchorsFile
Pay
Refunds
Credits & Deductions
Forms & Instructions
BodyUnderstanding Tax Return Preparer Credentials and Qualifications   More In Tax Pros. Enrolled Agents Annual Filing Season Program Participants Enrolled Retirement Plan Agents Certified Professional Employer Organization (CPEO) Enrolled Actuaries E-File Providers Modernized e-File Any tax professional with an IRS Preparer Tax Identification Number (PTIN) is authorized to prepare federal tax returns. However, tax professionals have differing levels of skills, education and expertise. An important difference in the types of practitioners is “representation rights.” Here is guidance on each credential and qualification: Unlimited Representation Rights: Enrolled agents, certified public accountants, and attorneys have unlimited representation rights before the IRS. Tax professionals with these credentials may represent their clients on any matters including audits, payment/collection issues, and appeals. Enrolled Agents – Licensed by the IRS. Enrolled agents are subject to a suitability check and must pass a three-part Special Enrollment Examination, which is a comprehensive exam that requires them to demonstrate proficiency in federal tax planning, individual and business tax return preparation, and representation. They must complete 72 hours of continuing education every 3 years. Learn more about the Enrolled Agent Program.   Certified Public Accountants – Licensed by state boards of accountancy, the District of Columbia, and U.S. territories. Certified public accountants have passed the Uniform CPA Examination. They have completed a study in accounting at a college or university and also met experience and good character requirements established by their respective boards of accountancy. In addition, CPAs must comply with ethical requirements and complete specified levels of continuing education in order to maintain an active CPA license. CPAs may offer a range of services; some CPAs specialize in tax preparation and planning.   Attorneys – Licensed by state courts, the District of Columbia or their designees, such as the state bar. Generally, they have earned a degree in law and passed a bar exam. Attorneys generally have on-going continuing education and professional character standards. Attorneys may offer a range of services; some attorneys specialize in tax preparation and planning. Limited Representation Rights: Some preparers without one of the above credentials have limited practice rights. They may only represent clients whose returns they prepared and signed, but only before revenue agents, customer service representatives, and similar IRS employees, including the Taxpayer Advocate Service. They cannot represent clients whose returns they did not prepare and they cannot represent clients regarding appeals or collection issues even if they did prepare the return in question. Tax return preparers with limited representation rights include: Annual Filing Season Program Participants – This voluntary program recognizes the efforts of return preparers who are generally not attorneys, certified public accountants, or enrolled agents. It was designed to encourage education and filing season readiness. The IRS issues an Annual Filing Season Program Record of Completion to return preparers who obtain a certain number of continuing education hours in preparation for a specific tax year.   Beginning with returns filed after December 31, 2015, only Annual Filing Season Program participants have limited practice rights. Learn more about this program.   PTIN Holders – Tax return preparers who have an active preparer tax identification number, but no professional credentials and do not participate in the Annual Filing Season Program, are authorized to prepare tax returns. Beginning January 1, 2016, this is the only authority they have. They have no authority to represent clients before the IRS (except regarding returns they prepared and filed December 31, 2015, and prior). Directory of Federal Tax Return Preparers with Credentials and Select Qualifications: To help taxpayers determine return preparer credentials and qualifications, the IRS has a public directory containing certain tax professionals. The searchable, sortable database includes the name, city, state, and zip code of attorneys, CPAs, enrolled agents, enrolled retirement plan agents, and enrolled actuaries with valid PTINs for 2016, as well as Annual Filing Season Program Record of Completion recipients. Reminder: Everyone described above must have an IRS issued preparer tax identification number (PTIN) in order to legally prepare your tax return for compensation. Make certain your preparer has one and enters it on your return filed with the IRS. (They are not required to enter it on the copy they provide you.) Tax return preparers who have PTINs but are not listed in the directory may provide quality return preparation services, but choose any return preparer wisely. Always inquire about their education and training. Page Last Reviewed or Updated: 15-Oct-2021 Share Facebook Twitter LinkedinPrint
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Result 10
TitleHow to Become a Tax Preparer in 4 Easy Steps | MileIQ
Urlhttps://mileiq.com/blog-en-us/how-to-become-a-tax-preparer
DescriptionPreparing tax returns can be a lucrative full-time or part-time business. ✓ To learn how to become a tax preparer check out our blog here today!
DateMay 2, 2019
Organic Position9
H1How to Become a Tax Preparer in 4 Easy Steps
H2What types of people prepare tax returns?
Do you need a license to become a non-credentialed tax preparer?
How do you become a non-credentialed tax preparer?
Should you enter the IRS filing season program?
H3Certified Public Accountants (CPA)
Enrolled Agents
Non-Credentialed Tax Preparers
Step 1: Get the training
Step 2: Get your PTIN from the IRS
Step 3: Get your EFIN from the IRS
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Step 4: Comply with state licensing requirements for non-credentialed tax preparers
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Connecticut
Maryland
Nevada
New York
Oregon
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H2WithAnchorsWhat types of people prepare tax returns?
Do you need a license to become a non-credentialed tax preparer?
How do you become a non-credentialed tax preparer?
Should you enter the IRS filing season program?
BodyHow to Become a Tax Preparer in 4 Easy StepsStephen FishmanTax expert and contributor MileIQMay 2, 2019Preparing tax returns can be a lucrative full-time or part-time business. And becoming a tax preparer can be easier than you think. Let’s discuss how to become a tax preparer, how to get certified to do taxes, and answer other important questions in the guide below.What types of people prepare tax returns?There are over one 1.2 million tax preparers in the United States. They come in all shapes and sizes. They range from licensed professionals to people without formal training who prepare tax returns part-time.  Let's look at the different types of people who prepare tax returns for clients and how to become a tax preparer for each type.Certified Public Accountants (CPA). CPAs represent the high end of the tax pro spectrum careers. CPAs not only prepare tax returns, they routinely represent clients in tax and financial matters before the IRS. Their duties also include sophisticated accounting and tax work. CPAs generally work in large national firms or small local outfits.  Each state licenses and regulates certified public accountants (CPAs) located in the state. Most CPAs major in accounting in college. You must have a minimum of 150 hours of college accounting courses to be a CPA. The learning process also requires you to pass a comprehensive CPA exam.Enrolled Agents. Enrolled agents (EAs) are tax advisers and preparers who are licensed by the IRS. You must pass a difficult IRS test to become an enrolled agent. But you don't have to have any particular educational background.  Anyone who can pass the test can become an EA. Like CPAs, EAs can represent taxpayers before the IRS and in administrative proceedings, circuit court, and, possibly, tax court.Non-Credentialed Tax Preparers. Non-Credentialed tax preparers are people who prepare tax returns but are not CPAs or EAs. There are about 600,000 to 700,000 people who work as non-credentialed tax preparers. They often work part-time or only during the tax season. Many tax preparers practice with national tax preparation services like H & R Block, Liberty Tax Service, or Jackson Hewitt Tax Services. However, there is nothing to prevent you from setting up your own tax preparation business.  Non-Credentialed tax preparers typically handle individual tax returns, which are less complicated than those for businesses. They generally get paid less than CPAs and EAs. But that doesn't mean you can't make good money.Do you need a license to become a non-credentialed tax preparer?A big part of figuring out how to become a tax preparer is learning what licensing you will need. The IRS does little to regulate non-credentialed tax preparers. It does not require them to have licenses. But non-credentialed tax preparers can't represent clients before the IRS.  Regulating tax preparers is left to the states. In the vast majority of states, anyone can prepare tax returns for others without having to take a competency exam, get a license, or comply with any other government regulation.  As part of the steps to become a tax preparer, a few states do license preparers. These are California, Connecticut, Illinois, Maryland, Nevada, New York, and Oregon. Also, 20 states have special regulations you must comply with if you offer tax refund anticipation loans to your clients.  How do you become a non-credentialed tax preparer?Here are the steps you should take to become a non-credentialed tax preparer.Step 1: Get the training. You don't need to be a genius to prepare tax returns. And don't need a college degree. However, you should have a high school diploma or GED.  Moreover, you don't necessarily need an extensive background in accounting. Most non-credentialed tax preparers handle returns for individuals, which are usually routine. Nevertheless, you still need training so you can competently prepare tax returns for others.  The less background you have in tax and accounting, the more training you'll need. If you intend to specialize in taxes for individuals, you'll need less schooling than if you deal with business taxes.  There are many tax training resources: Your local community college may offer courses. National tax preparation firms like H & R Block, Liberty Tax Service, and Jackson Hewitt Tax Services all provide training courses, often at low cost. Some tax preparation companies offer on-the-job training. Many private training companies and technical colleges offer courses. The Accreditation Council for Accountancy and Taxation (ACAT) and National Association of Tax Professionals both present training courses. The ACAT offers an Accredited Tax Preparer credential to those who complete its courses and pass an exam. Credentials are not required to be a tax preparer but can help you get hired or paid more.You can access a comprehensive list of tax training resources from the IRS website.Step 2: Get your PTIN from the IRS. Anyone who prepares federal tax returns for money must have a valid Preparer Tax Identification Number (PTIN). You obtain it from the IRS. Getting a PTIN registers you as an "unenrolled preparer," granting you the minimum level of clearance to prepare federal taxes. You use the PTIN to identify yourself as a paid preparer in the returns you draw up for your clients.  You can obtain your PTIN online, and it's free. To get a PTIN, you must Be at least 18 years old Provide your address Provide your Social Security number Explain any felony convictions, and Explain if you owe money to the IRSThere are no other requirements. But, if you have felony convictions or owe money to the IRS, it might hold up your PTIN.Step 3: Get your EFIN from the IRS. If you intend to work as a tax preparer on your own, you need to obtain an Electronic Filing Identification Number (EFIN) from the IRS. You'll need this number to e-file returns for your clients. Any tax preparer who prepares 11 or more tax returns a year, must e-file the returns.  To obtain an EFIN, you must: Create an IRS e-services Account Submit an IRS online e-file application, and Pass a Suitability CheckObtaining an EFIN is free. But you may have to get fingerprinted, which can cost about $50. The IRS doesn't want to give criminals EFINs. So it may check your credit history and criminal record. It will also check to see if you owe the IRS money. For more information, refer to IRS Publication 3112, IRS e-file Application and Participation.Download MileIQ to start tracking your drives. Automatic, accurate mileage reports.Get StartedStep 4: Comply with state licensing requirements for non-credentialed tax preparers. The following states require non-credentialed tax preparers to obtain a state-issued license or registration. Many impose education and competency examination requirements as well.  These license requirements do not apply to CPAs, enrolled agents, or attorneys. Some of these states have other exemptions. So study your state's policy and requirements carefully. California. Tax preparers must register online with the California Tax Education Council to work in California. To do so, you must:   Take a 60-hour qualifying education course from a CTEC approved provider within the past 18 months   Purchase a $5,000 tax preparer bond from an insurance/surety agent   Obtain a Preparer Tax Identification Number (PTIN) from the IRS, and   Pay a $33 registration fee You must also complete 20 hours of continuing tax professional education each year. Connecticut. Tax preparers in Connecticut must obtain a permit from the Connecticut Department of Revenue Services every two years. The permit costs $100. To acquire a permit, you must:   Be eighteen years of age, or older   Have a high school diploma   Possess a PTIN from the IRS, and   Present evidence that you have the experience, education, or training in tax preparation services You apply for the permit online. Connecticut tax preparers must adhere to specified standards of conduct or face a civil penalty of $500 for each violation. You can also have your permit revoked. For more details, see Permit Requirements for Tax Preparers and Facilitators.  Maryland. Maryland tax preparers must obtain a license from the Maryland Department of Labor, Licensing, & Regulation. To attain a license, you must:   Have a high school diploma or GED   Obtain a PTIN from the IRS   Complete 80 hours of tax law training courses, and   Pass a state competency exam You need to renew your license every two years. To do so, you must complete 16 hours of continuing tax education and retake the exam. Nevada. You must register with the Nevada Secretary of State to be a tax preparer in Nevada. You register as a document preparation service. To register, you must pay a $50 fee and obtain a $50,000 surety bond or cash bond. You must file these with the Secretary of State. Next, you must renew your license every year. Registration takes place online. New York. You must register with the New York Department of Taxation and Finance every year to work as a tax preparer in New York state. To do so, you must:   Be 18 years of age or older   Have a high school diploma or GED   Certify you have met all child support obligations, and   Pay a $100 fee if you prepare 10 or more returns each year You register online. You must also complete four hours of continuing education each year.  For more details, see Publication 58, Information for Income Tax Return Preparers. Oregon. To work as a tax preparer in Oregon, you must obtain a license from the Oregon Board of Tax Practitioners. To do so, you must:   Have a high school diploma or GED   Obtain a PTIN from the IRS   Complete 80 hours of tax training courses with at least a 75% passing grade, and   Pass a competency examination You apply online. Should you enter the IRS filing season program? The IRS does not license tax return preparers or impose any educational or other requirements on them. Why? Because it's not legally authorized to do so. But the IRS does have a voluntary registration program: the Annual Filing Season Program.  To join this program, you must have a PTIN and complete 18 hours of tax continuing education. This program includes a six-hour federal tax law refresher course with the test.  After completing these requirements, you'll receive an Annual Filing Season Program Record of Completion certification from the IRS.  You'll also get listed in an IRS online database of tax preparers. This record is officially called the Directory of Federal Tax Return Preparers with Credentials and Select Qualifications. Being listed in the directory can help you get business.  In addition, Annual Filing Season Program participants have a limited right to represent their clients before the IRS. They may do so before revenue agents, customer service representatives, and similar IRS employees, including the Taxpayer Advocate Service.  For more information, refer to the IRS Annual Filing Season Program web page. Download MileIQ to start tracking your drives. Automatic, accurate mileage reports.Get StartedHow have you been tracking your miles?Start tracking drives automatically with MileIQ!Get StartedRelated Blog Posts. Self EmployedMileIQ Glossary: Basic Terms to Know. Understanding MileIQ terminology is pivotal to improving your use of the mileage tracking app. This primer will walk you through the essential terms in easy-to-understand language.Small Business Tips10 best interview questions to ask employees. Hiring? These 10 interview questions are the best way to determine if this applicant should be your next employee or not.Small Business TipsWhat Are the Lyft Car Requirements?Interested in becoming a Lyft driver? Read on to learn about the benefits of the service for drivers and get the scoop on Lyft car requirements.Self EmployedHow I built a 6 figure work from home freelance business. Kevin Craine shares his best tips on how to become a successful work from home freelancer, including how to manage your sales pipeline and find your niche.Small Business TipsWhere to Find Business Partners: Websites for Entrepreneurs. Analyze websites, track social media, build backlinks - Ahrefs has you covered. ✓ Try our marketing and SEO tools Site Explorer and Content Explorer!Taxes6 tax tips for the self-employed. These tax tips for the self-employed will help you stay on top of your taxes. This includes important deductions & write-offs you can't miss.Join the millions of drivers who’ve saved billions of dollars with MileIQ.PersonalFeaturesReviewsPricingTeamsFeaturesReviewsPricingResourcesAbout UsBlogHelp CenterPrivacyTerms of Use
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Result 11
TitleAccredited Tax Advisor - ACAT
Urlhttps://www.acatcredentials.org/step1/step1ata
Description
Date
Organic Position10
H1
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H3
H2WithAnchors
Body"//www.googletagmanager.com/ns.html?id=GTM-NJ6Q6T5" height="0" width="0" style="display:none;visibility:hidden">
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Result 12
TitleChoosing a Tax Advisor: Everything You Need to Know | Bench Accounting
Urlhttps://bench.co/blog/tax-tips/tax-advisor/
DescriptionA tax advisor can help you understand your taxes, find deductions and credits that lower your tax bills, and even file your tax return for you
DateOct 29, 2021
Organic Position11
H1Choosing a Tax Advisor: Everything You Need to Know
H2What is a tax advisor?
When should you hire a tax advisor?
What does a tax advisor do?
How much does a tax advisor cost?
How Bench can help
Is a tax advisor right for your business?
H3Certified Public Accountant (CPA)
Enrolled agent
Tax attorney
Financial advisor
Tax preparation
Help lower your tax payments
Planning for taxes in retirement
Managing major one-time events
What's Bench?
Want a free month of bookkeeping?
H2WithAnchorsWhat is a tax advisor?
When should you hire a tax advisor?
What does a tax advisor do?
How much does a tax advisor cost?
How Bench can help
Is a tax advisor right for your business?
BodyChoosing a Tax Advisor: Everything You Need to KnowBy Eric Rosenberg on October 29, 2021A tax advisor (or tax consultant) is a tax professional with specialized knowledge they use to help their clients make the best tax-related decisions. Because “tax advisor” is a general term that covers a range of professions and expertise, it’s essential to understand what benefit you want to get from a tax advisor if you’re considering hiring one. Here’s a look at what tax advisors are, what they cost, and if a tax advisor may be right for your small business. What is a tax advisor? A tax advisor is a financial professional with tax-specific expertise. These advisors, sometimes referred to as tax consultants, offer services to help individuals and businesses minimize tax liabilities and navigate complex tax situations like starting a new business or selling your old one. If you’re looking to hire a tax advisor, find one with the proper credentials and experience for your specific tax advising needs. Tax experts focus on different areas, such as small business, estate, investment, retirement, or real estate taxes. There is no specific tax advisor license. Tax advisors may also work as a Certified Public Accountant (CPA), tax attorney, enrolled agent, or financial advisor. Here’s a look at what each of those mean and what they are most likely to offer. Certified Public Accountant (CPA). A CPA is an accountant licensed by their state board of accountancy. The CPA exam is a 16-hour test focused on auditing and attestation, business environment and concepts, financial accounting and reporting, and regulation. Not all CPAs work with taxes, but those who do are likely qualified experts. CPAs may help you ensure your business is in compliance with tax regulations and maintains the latest accounting standards. Enrolled agent. An enrolled agent is someone who has passed a three-part exam or has worked at the IRS in the past. This is the highest level of credential awarded by the IRS. Enrolled agents commonly help with tax planning, offer tax advice, prepare tax returns, and may represent you in an audit or other tax situation. Tax attorney. A tax attorney or tax lawyer specializes in working with taxes. Tax attorneys may help individuals or businesses manage federal, state, or local tax law issues. Financial advisor. A financial advisor is an expert in planning and managing a wide range of financial needs. Most financial advisors focus on investments and financial planning, though many offer additional services, such as tax advice and support. Small business financial advisors may also offer business-specific tax planning strategies and advice. If you’re a small business owner, you’re probably best served by a business-focused tax expert. This may not be the same person or service who handles your personal taxes, so be sure to keep that in mind when looking for an advisor. When should you hire a tax advisor? Taxpayers can handle their own income tax returns when they are straightforward. For instance, an adult who has W2 income only, no assets other than a home, and who does not itemize deductions can probably DIY their tax return online. If, however, you’re self-employed, run your own business, or own various assets, your taxes are likely more complex. A tax advisor could be a good investment. Here are a few financial situations where hiring a tax advisor may be smart: You own a small business You don’t have enough time to do your taxes and research questions You own one or more rental properties You’ve made mistakes on prior year taxes You want an expert to help you legally reduce your tax bill Of course, this isn’t an all-encompassing list. Personal and business taxes vary from household to household and business to business. A good tax advisor can help you understand where you may save on taxes and offer unique insights you likely wouldn’t find on your own. What does a tax advisor do? Tax advisors offer services ranging from a one-time consultation to full-service tax preparation to defending your tax return in an IRS audit. These are common tax services small business owners may want to take advantage of from a tax advisor. Remember, not all tax advisors will offer all tax-related services—you should look for an advisor who will suit your needs. Tax preparation. Most people in the U.S. who are under the age of 65 and earn at least $12,550 in gross income have to file a personal tax return. All businesses except partnerships have to file a tax return. And even partnerships file a return—it’s called an information return instead of a tax return, but it’s all about taxable income. If you’re reading this, taxes are probably a reality for you. Many common business situations can make your taxes more complex, such as growing the business, acquiring a business, taking on investors, or changing your business structure. Some situations call for one-time help, while others may create the need for ongoing professional tax advice. As your taxes become more complex, hiring a tax pro can save you time and improve the accuracy of your return. A tax advisor might find significant financial savings for you compared to the result you can achieve handling your tax return yourself. This is true even if you have used tax preparation software in the past. Help lower your tax payments. A tax advisor may find deductions and credits to lower your tax burden that you didn’t know existed. The United States tax code is available in two books from the Government Printing Office. According to the Tax Foundation, those total roughly 2,700 pages and have an estimated word count similar to the entire Harry Potter series…but you’ll likely find the tax code far less engaging. Most business owners want to focus on running a successful business, not learning the tax code. You can expect that expertise from a tax advisor because that’s their business. Planning for taxes in retirement. Self-employed business owners have different retirement savings options than salaried employees. Because you likely don’t have a human resources department to pick and manage a 401(k) plan for you, for example, you can work with a tax advisor to choose the ideal combination of retirement and other financial accounts that can help you reach your long-term goals. Learn more: Small Business Employee Benefits (An Employer’s Guide) Managing major one-time events. Some life events, like marriage, divorce, or receiving a financial windfall, can have tax repercussions. Similarly, starting a business, closing a business, acquiring a business, or merging multiple firms can trigger one-time and ongoing tax changes. An experienced tax advisor can help you navigate the ins and outs of infrequent life and business changes that impact many taxpayers. How much does a tax advisor cost? Tax advising and preparation fees vary widely based on your needs and your preparer. As your business grows and your taxes become more complex, costs are likely to go up. According to the National Society of Accountants, you can expect to pay this much, on average, for common tax forms: Tax Form Average Fee Form 1040 - Not Itemized $220 Form 1040 - Itemized $323 Form 1065 (Partnership) $733 Form 1120S (S Corporation) $903 Form 1120 (Corporation) $913 Form 940 (Federal Unemployment) $78 Form 941 (Employer’s Quarterly Tax Return) $96 Of course, your tax advisor bill will depend on the services you need. You may pay flat rates for each form, hourly rates, or a combination. Learn more: How Much Does a CPA Cost? How Bench can help. If you’re looking for one-stop bookkeeping and tax support, Bench can help. Your Bench bookkeeper provides accurate and up-to-date monthly financials, offering you and your tax advisor the insights you need to make better budgeting, forecasting, and tax filing decisions. Streamline your financial management with Bench’s tax-specific services. When you upgrade your monthly bookkeeping plan, you can take advantage of personalized tax expertise, including unlimited tax advisory, one-on-one tax strategy planning, and annual tax filings for your business. Learn more. Is a tax advisor right for your business? It’s hard to overstate the amount of money a good tax professional could potentially save you over the course of your life as a taxpayer—if you’re running a business or you have multiple assets, you can probably benefit from a tax advisor. Many businesses recover the cost to hire a tax advisor in reduced tax liabilities (and then some) each year. That’s a huge potential win-win scenario for your business. What's Bench?We're an online bookkeeping service powered by real humans. Bench gives you a dedicated bookkeeper supported by a team of knowledgeable small business experts. We’re here to take the guesswork out of running your own business—for good. Your bookkeeping team imports bank statements, categorizes transactions, and prepares financial statements every month. Get started with a free month of bookkeeping. This post is to be used for informational purposes only and does not constitute legal, business, or tax advice. Each person should consult his or her own attorney, business advisor, or tax advisor with respect to matters referenced in this post. Bench assumes no liability for actions taken in reliance upon the information contained herein. Friends don’t let friends do their own bookkeeping. Share this article.Want a free month of bookkeeping?Sign up for a trial of Bench. We’ll do one month of your bookkeeping and prepare a set of financial statements for you to keep. No pressure, no credit card required. Get Started
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Result 13
TitleHow to Become a Tax Preparer | TaxSlayer Pro
Urlhttps://www.taxslayerpro.com/how-to-become-a-tax-preparer
Description
Date
Organic Position12
H1How to become a professional tax preparer
H2How to start your own tax preparation business
What are the different types of tax preparers?
Do I need a degree to be a tax preparer?
Do I need a high school diploma to prepare taxes?
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H3Getting started as a professional tax return preparer may be easier than you thought. Here are the answers to some frequently asked questions, as well as a step-by-step plan to help you set off on the right foot.
1. Create your PTIN
2. Apply for an EFIN
3. Register with your state
4. Work at an office
5. Choose a tax prep software
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H2WithAnchorsHow to start your own tax preparation business
What are the different types of tax preparers?
Do I need a degree to be a tax preparer?
Do I need a high school diploma to prepare taxes?
See why our customers love us
Subscribe to updates from TaxSlayer Pro Just for professional tax preparers
BodyHow to become a professional tax preparer Getting started as a professional tax return preparer may be easier than you thought. Here are the answers to some frequently asked questions, as well as a step-by-step plan to help you set off on the right foot. . LEARN MORE How to become a professional tax preparer: 1. Create your PTIN . Anyone who prepares tax returns and charges a fee for their services is required to have a Preparer Tax Identification Number (PTIN) . There aren’t any educational requirements to get your PTIN. You can create one online on the IRS website. The process only takes about 15 minutes. You can also apply for a PTIN by completing and mailing in  Form W-12.   2. Apply for an EFIN  . If you plan to file tax returns electronically, the IRS requires that you have an Electronic Filing Identification Number or EFIN . You can complete your application quickly on the IRS website, here. You will also need to provide your fingerprints to the IRS unless you are already a certified licensed professional, like a CPA or attorney. It should take about 45 days to get your EFIN.  3. Register with your state  . Every state is different. Depending on where you plan to work, you may or may not need to register as a tax preparer. Look up your state’s requirements before you begin accepting clients. 4. Work at an office  . When you are just starting out as a tax preparer, you may find it helpful to work for an established tax prep service for a brief period. Not only will you be able to ask questions and gain experience during tax season, but you could also learn valuable lessons about the state and local requirements where you plan to start your business.  5. Choose a tax prep software . Every tax preparer is different. Depending on your level of experience in the industry, you may require certain things from your tax preparation software. Consider your needs first.   How much support and tax filing assistance is included? Can you install the software on your desktop?  Does it come in a cloud-based version? Can your provider also help you grow your revenue as you gain experience? These questions are essential, and the answers can help you decide which solution is the right one for you.  TaxSlayer Pro is an easy-to-use tax prep software for tax preparers with all levels of education and experience. See how we work. Get a demo of our software today .  How to start your own tax preparation business. Use these easy to follow steps to build your own tax prep business with TaxSlayer Pro. Watch video What are the different types of tax preparers? . Tax preparers can have different titles, depending on their level of education. Some need a license to practice, and some do not. Electronic Return Originator (ERO) . EROs assist others who are filing a tax return. The ERO is the person who submits the return to the IRS online. You do not need a certification to be an ERO. However, you will need an Electronic Filing Identification Number (EFIN). Annual Filing Season Program (AFSP) Participants . ASFP tax preparers must take 15-18 hours of continuing education each year, and they must pass a test at the end of their coursework. Once they complete their requirements, these preparers receive a record of completion from the IRS. They are also included in a public database of preparers on the IRS website.  Enrolled Agent (EA)  . Enrolled agents are federally licensed tax professionals. To become an EA, you must complete an IRS-sponsored exam and pass a background check. You must also meet specific continuing-education requirements to maintain your EA status once you have it. Certified Public Accountant (CPA) . A CPA’s primary role is accounting, but CPAs are typically certified at the state level to file tax returns as well. To become a licensed CPA, you must meet certain education requirements and pass a CPA exam.  Do I need a degree to be a tax preparer?  . You don’t need a bachelor’s or associate degree to become a tax preparer. However, to build a successful tax prep business, it helps to have basic math, computer, and customer service skills.  Do I need a high school diploma to prepare taxes? . You don’t have to be a high school graduate to work as a tax preparer. But there are several certifications available that can help you improve your skills and build your business, and many of those programs do require you to have a high school diploma.  Interested in becoming a professional tax preparer? Contact TaxSlayer Pro Sales at [email protected] or call: 1-888-420-1040. See why our customers love us. Trusted by tax preparers nationwide since 1989. Trustpilot Subscribe to updates from TaxSlayer Pro Just for professional tax preparers . Stay up to date with TaxSlayer Pro. Get helpful information about our products, tax prep tips, and more. Please enter a valid email address. Completing the above form gives TaxSlayer Pro permission to send you occasional marketing emails. You can opt out at any time by visiting https://info.taxslayer.com/ProUnsubscribePage.html. You can also unsubscribe by clicking the unsubscribe button at the bottom of every marketing email you receive. Privacy Policy . YOUR PRIVACY IS A PRIORITY TO US At TaxSlayer Pro (collectively "We", "Us", "Our" Or "TaxSlayer"), we are committed to safeguarding customer information On https://www.taxslayerpro.com. Since your privacy Is a priority To us, TaxSlayer will Not share nonpublic information about you With third parties outside Of the TaxSlayer corporate family without your consent, except as explained in our Privacy Policy. If you have an unresolved privacy or data use concern that we have not addressed satisfactorily, please contact our U.S.-based third party dispute resolution provider (free of charge) at https://feedback-form.truste.com/watchdog/request. PRIVACY POLICY . Protecting your privacy is important to TaxSlayer. We want you to understand what information we may gather and how we may share it. This Privacy Policy explains TaxSlayer’s collection, use, retention and security of information about you. It also describes your choices regarding use, access and correction of your personal information. How We Collect Information . Visiting our Web Site . We will not collect personal information about you just because you visit this site. In order to improve the usefulness of our web site for our visitors, we automatically collect and maintain statistical information from our site's data logs that concern network traffic flow and volume. This information consists of: The name of the domain from which the visitor accesses the Internet (e.g., 'a company.com'; 'a school.edu'; or 'an agency.gov') The Internet Protocol Address; and The date and time our website is visited Browser type Internet service provider Referring/exit pages Operating system Clickstream data This information does not identify individual visitors and is used to enhance and improve your experience on our site. No attempts are made to identify individual users unless illegal behavior is suspected. Mobile . device you use and operating system version. We use mobile analytics software to allow us to better understand the functionality of our Mobile Software on your phone. This software may record information such as how often you use the application, the events that occur within the application, aggregated usage, performance data, and where the application was downloaded from. We do not link the information we store within the analytics software to any personally identifiable information you submit within the mobile app. We send you push notifications from time-to-time in order to update you about any events or promotions that we may be running. If you no longer wish to receive these types of communications, you may turn them off at the device level. To ensure you receive proper notifications, we will need to collect certain information about your device such as operating system and user identification information. Purchasing our Products . The purpose of this site is to market and sell our software. As a result, you may have to provide us your personal information and/or email address. We do not share or disseminate this information to other vendors or clients. This information is kept in strictest, secure, confidence. If you choose to purchase our products online, you will be asked for personal information as well as your credit card number. The forms requesting this information are on a secure server. All steps are taken to safeguard your information. Tracking Technologies . Technologies such as: cookies, beacons, tags, scripts or similar technologies are used by TaxSlayer and our partners affiliates, or analytics or service providers. For an updated list of these providers please contact our marketing team. These technologies are used in analyzing trends, administering the site, tracking users’ movements around the site and to gather demographic information about our user base as a whole. We may receive reports based on the use of these technologies by these companies on an individual as well as aggregated basis. We use cookies for our shopping cart, to remember users’ settings (e.g. language preference), for authentication. Users can control the use of cookies at the individual browser level. If you reject cookies, you may still use our site, but your ability to use some features or areas of our site may be limited. Behavioral Advertising . We partner with a third party to either display advertising on our Web site or to manage our advertising on other sites. Our third party partner may use technologies such as cookies to gather information about your activities on this site and other sites in order to provide you advertising based upon your browsing activities and interests. If you wish to not have this information used for the purpose of serving you interest-based ads, you may opt-out by clicking here. Please note this does not opt you out of being served ads. You will continue to receive generic ads. Information Gathering . The information we gather, in addition to your tax return, includes: Credit Card including: . Cardholder's name, credit card type, credit card number, expiration date, billing address, email address. Credit card data is used to complete our transactions and none of this information is shared with anyone else. Technical Assistance . User name, user ID, email address, operating system, connection, browser. We may also collect, from you, the following personal information about your contacts: Tell A Friend / TaxPerks. If you choose to use our referral service to tell a friend about our site, we will ask you for your friend’s name and email address. We will automatically send your friend a one-time email inviting him or her to visit the site. TaxSlayer Pro stores this information for the sole purpose of sending this one-time email and tracking the success of our referral program. Your friend may contact us at here to request that we remove this information from our database. When you provide us with personal information about your contacts we will only use this information for the specific reason for which it is provided. If you believe that one of your contacts has provided us with your personal information and you would like to request that it be removed from our database, please contact us at 945 Broad St Augusta, GA 30901. Newsletters . We will use your name and email address to send newsletters to you. Out of respect for your privacy, we provide you a way to unsubscribe. Please visit here to opt out. You can also unsubscribe by clicking the unsubscribe button at the bottom of every marketing email you receive. Sharing Information . We will share your personal information with third parties only in the ways that are described in this privacy policy. We do not sell your personal information to third parties. Within TaxSlayer Corporate Family. . We may share information about you and the products and services you have purchased from us, among members of the TaxSlayer Corporate family and our parent company of Rhodes Financial Services, all of whom follow our Privacy Policy. However, this information will not be provided to third parties outside our corporate family, except as noted below: With Our Service Providers . In some cases, we employ service providers to provide a product you order, to fulfill a service you request, or to market one of our products or services. Examples include using Web analytical software, Web beacons, delivering downloadable products, offering online software applications, or sending e-mails on our behalf. While this may require us to share information, these service providers are strictly prohibited from using your information other than to act on our behalf. For Legal Reasons . We may be required to provide information about you to third parties outside of the TaxSlayer corporate family without your consent as provided by law, such as, to respond to lawful requests by public authorities, including to meet national security or law enforcement requirements, a subpoena or court order, judicial process or bankruptcy proceedings, regulatory authorities, to protect against fraud. In Case of Sale of Company . Your information may be transferred in connection with a proposed or actual sale, merger, or transfer of all or a portion of a business or operating unit. You will be notified via email and/or a prominent notice on our Web site of any change in ownership or uses of your personal information, as well as any choices you may have regarding your personal information. Testimonials . With your consent . We may also disclose your personal information to any other third party with your prior consent. We post customer testimonials on our web site, which may contain personal information such as the customer's name. We do obtain the customer's consent prior to posting the testimonial to post their name along with their testimonial. If you wish to update or delete your testimonial, you can contact us at [email protected] Blog / Forum . Our web site offers publicly accessible blogs or community forums. You should be aware that any information you provide in these areas may be read, collected, and used by others who access them. To request removal of your personal information from our blog or community forum, contact us at [email protected] In some cases, we may not be able to remove your personal information, in which case we will let you know if we are unable to do so and why. Alternatively, if you used a third party application to post such information, you can remove it, by either logging into the said application and removing the information or by contacting the appropriate third party application. Links . As a service to our customers, we have installed links to various tax agencies/services. These include IRS.Gov, and various state agencies and organizations. The links provided are maintained by these separate entities and are not the property of, or affiliated with, Taxslayer Pro. If you submit personal information to any of those sites, your information is governed by their privacy policies. We encourage you to carefully read the privacy policy of any Web site you visit. Social Media Widgets . Our Web site includes Social Media Features, such as the Facebook Like button [and Widgets, such as the Share this button or interactive mini-programs that run on our site]. These Features may collect your IP address, which page you are visiting on our site, and may set a cookie to enable the Feature to function properly. Social Media Features and Widgets are either hosted by a third party or hosted directly on our Site. Your interactions with these Features are governed by the privacy policy of the company providing it. Our Former Customers . Even if you are no longer a TaxSlayer customer, our Privacy Policy will continue to apply to you. Our Security Practices and Information Accuracy . TaxSlayer understands the importance of protecting customer information. TaxSlayer adheres to regulatory, security, and privacy standards applicable to the tax preparation industry. TaxSlayer’ web-based and desktop applications have a proven record of securing TaxSlayer information by utilizing a variety of security related technologies including, but not limited to, firewalls, intrusion detection systems, web application firewalls, encryption, access controls, network isolation, auditing systems, data classifications, and data obfuscation. In order to protect the data as our client enters it in the system, TaxSlayer incorporates the use of SSL encryption facilitated by an Extended Validation SSL Certificate issued by a recognized trusted certificate authority. TaxSlayer utilizes security guards, access controls, biometrics, man traps, and other security mechanisms to protect physical access to the datacenter. TaxSlayer’s information systems maintain PCI compliance which must be renewed annually. Additionally, our systems are routinely subject to automated vulnerability testing purposely exceeding the requirements of PCI compliance. This practice allows quicker identification and remediation of risks to the privacy of taxpayer data. Internal audits are performed continuously throughout the year to ensure compliance with regulatory standards and TaxSlayer’s Information Security Policy Manual. If you have any questions about the security of your personal information, you can contact us at [email protected] Data Retention . We will retain your information for up to three tax years as long as your account is active, or as needed to provide you services. If you wish to cancel your account or request that we no longer use your information to provide you services contact us at [email protected] We will retain and use your information as necessary to comply with our legal obligations, resolve disputes, and enforce our agreements. Access to Personal Information . Upon request TaxSlayer Pro will provide you with information about whether we hold any of your personal information. Personal Information is accessible online through October 20 of the year in which the return is filed. You may view, delete and/or make changes to your personal information by visiting your account online at https://www.taxslayerpro.com and selecting ""Edit Account Information" or by emailing our Customer Support at [email protected] or by contacting us by telephone or postal mail at the contact information listed below. Any return e-filed through TaxSlayer Pro will be available only in PDF format (fees may apply). We will respond to your request to access within a reasonable timeframe. Web Analytics Tracking . This website uses Hotjar web analytics service. Hotjar may record mouse clicks, mouse movements and scrolling activity. Hotjar collects information regarding pages visited, actions which are taken, country, device used, operating system, and browser used. Hotjar does not collect personally identifiable information (PII) that you do not voluntarily enter in this website. Hotjar does not track your browsing habits across web sites which do not use Hotjar services. How to Contact Us . If you have questions or concerns regarding this policy, you should first contact customer support at [email protected] You can also write us at: TaxSlayer Pro Privacy 945 Broad St Augusta, GA 30901 Changes in this Privacy Policy . The Privacy Policy applies to products and services of TaxSlayer Pro, online. We reserve the right to change this Privacy Policy, and any of the policies described above, at any time. Any changes to our policy will be immediately posted and made available to consumers at our website and these changes will not take effect for 15 days after their initial posting. We will also email users with this information. If we make any material changes we will notify you by email (sent to the e-mail Other Types of Information We Gather, address specified in your account) or by means of a notice on this Site prior to the change becoming effective. The examples contained within this Privacy Policy are illustrations; they are not intended to be exclusive. Approved and Effective 10/11/17
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Result 14
TitleHow to Become a Tax Preparer - 4 Easy Steps
Urlhttps://www.theincometaxschool.com/tax-courses/how-to-become-a-tax-preparer/
DescriptionBecoming a tax preparer can be a very interesting & rewarding career! With flexibility, job security, & no ceiling on your income, a career in tax is highly attractive!
Date
Organic Position13
H1
H2Gain flexibility, job security, & no cap on your income as a tax preparer
Follow these 4 easy steps & you’ll be preparing tax returns in just weeks
Step 1: Take a Top-Quality, Beginner Tax Preparation Course
Step 2: Obtain a PTIN
Step 3: Check Your State for Tax Preparer Requirements
Step 4: Continue Your Education
Get Started with a Career in Tax Preparation Today!
H3About the course:
The course includes:
You’ll need the following for your PTIN application:
Check out our Free 3-Day Trial for the Comprehensive Tax Course
H2WithAnchorsGain flexibility, job security, & no cap on your income as a tax preparer
Follow these 4 easy steps & you’ll be preparing tax returns in just weeks
Step 1: Take a Top-Quality, Beginner Tax Preparation Course
Step 2: Obtain a PTIN
Step 3: Check Your State for Tax Preparer Requirements
Step 4: Continue Your Education
Get Started with a Career in Tax Preparation Today!
BodyHow to Become a Tax Preparer Gain flexibility, job security, & no cap on your income as a tax preparer. There’s currently a shortage of qualified tax preparers. Plus, taxes aren’t going away any time soon. The combo makes a career in tax a very attractive option! . Things you don’t need…. You don’t need to be a CPAYou don’t need to know accounting or high level mathYou don’t need a college degreeYou don’t need prior tax knowledge Tax preparer benefits. A recession-proof career with no cap on incomeA flexible work scheduleThe possibility to work from homeA professional, marketable skillKnowledge that enables you to save on your own taxes Follow these 4 easy steps & you’ll be preparing tax returns in just weeks. Step 1: Take a Top-Quality, Beginner Tax Preparation Course. The Comprehensive Tax Course starts with the basics, assuming no prior tax knowledge. This hands-on income tax course will teach you to: Prepare tax returns for most Form 1040 individual, non-business taxpayers Prepare tax returns for most self-employed/Schedule C taxpayersResearch tax issues About the course:. 5-star rated programRegister any time you likeOnline, self-paced – available 24/76 month term but many finish in 10 weeks or lessCTEC approved qualifying education provider for CA The course includes:. Comprehensive Tax Course – 2021 Edition is Better than Ever, with Revised Content, Practical Pointers, & More!CA State Supplement AvailableSurgent ITS Support by EmailCertificate of Completion after each of the four modulesFREE 6-Hour AFTR CourseAlso available in a 2-course bundle or as part of a certificate program Get the FREE 3-Day Trial Now Step 2: Obtain a PTIN. A PTIN – also known as a Preparer Tax Identification Number – is issued by the Internal Revenue Service (IRS) to paid preparers. IRS regulations requires anyone who prepares, or assists in preparing, federal tax returns for compensation to have a valid PTIN before preparing returns. You must renew your PTIN annually. Applying for your PTIN is easy, and only takes about 15 minutes online. There is a $35.95 nonrefundable fee, which can be paid by Credit/Debit/ATM card. You’ll need the following for your PTIN application:. Your Social Security NumberYour Personal Information (name, mailing address, date of birth)Your Business Information (name, mailing address, telephone number)Your previous year’s individual tax return (name, address, filing status)Explanations for any felony convictionsExplanations for any problems with your U.S. individual or business tax obligationsIf applicable, any U.S.-based professional certifications information (CPA, attorney, Enrolled Agent, enrolled retirement plan agent, enrolled actuary, certified acceptance agent, or state license) including certification number, jurisdiction of issuance, and expiration date. IMPT: You should obtain your PTIN as soon as possible to get things moving along. You don’t need to wait until you complete Step 1. Learn More About Obtaining Your PTIN Step 3: Check Your State for Tax Preparer Requirements. Tax return preparer regulations vary widely by state. So be sure to check with the state you live in to see if you have specific requirements that you must meet. States like California, Connecticut, Iowa, Maryland, New York, and Oregon, do have requirements. State requirements for tax return preparers can range from nothing, to annual registration, a required beginner course, and/or a state exam that you must pass. You may also have continuing education requirements. Many states still don’t have any requirements! See if Your State has Tax Preparer Regulations Step 4: Continue Your Education. Once you complete the Comprehensive Tax Course, you can easily pass the IRS Annual Filing Season Program (AFSP), which includes the Annual Federal Tax Refresher Course (AFTR). This is a voluntary program, not a requirement. So, you don’t have to do this extra step, but it is a wise move! BONUS: When you register for the Comprehensive Tax Course with Surgent Income Tax School, you receive a FREE 6-hour AFTR (Annual Federal Tax Refresher) Course at no additional cost. Upon completion of both courses (Comprehensive Tax Course and AFTR Course) and registering for your PTIN, you can be approved as an IRS Qualified Preparer and receive an AFSP – Record of Completion from the IRS. The AFSP program sets non-credentialed tax return preparers apart from their competition, and also gives preparers some representation rights for their clients. This is an exciting time to be a tax preparer and it’s important to stay current with the ever-changing tax laws. In addition to keeping up with the changes, you should also consider learning some new things each year. Learning advanced individual and small business tax information will enable you to take on more complicated tax returns. This new knowledge will help you gain confidence as a tax preparer, continue to grow in the field, and expand your tax practice. Learn More About the Annual Filing Season Program (AFSP) Get Started with a Career in Tax Preparation Today! Check out our Free 3-Day Trial for the Comprehensive Tax Course.
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Result 15
Title6 Steps for How To Become a Tax Consultant | Indeed.com
Urlhttps://www.indeed.com/career-advice/finding-a-job/how-to-become-tax-consultant
DescriptionIf you want to help people and you have a knack for numbers, you may want to learn more about the six steps to take for how to become a tax consultant
DateMar 15, 2021
Organic Position14
H16 Steps for How To Become a Tax Consultant
H2What is a tax consultant
How to become a tax consultant
Skills and attributes for a successful career in tax consultation
Related Articles
H31. Research the industry and career
2. Earn a bachelor's degree
3. Research your state CPA requirements
4. Apply for an internship
5. Take the CPA exam and apply for a license
6. Apply for a job as a tax consultant
Mathematical ability
Attention to detail and accuracy
Strategic thinking and problem solving
Professional organization
Computer navigation
Verbal communication and empathy
Accepting of constructive criticism and feedback
Dedication to continued learning
At-Home Jobs That Pay Over $40K With No College Degree
12 High-Paying Jobs That Don’t Require a Bachelor’s Degree
Employers Virtually Interviewing Now
H2WithAnchorsWhat is a tax consultant
How to become a tax consultant
Skills and attributes for a successful career in tax consultation
Related Articles
Body6 Steps for How To Become a Tax ConsultantBy Indeed Editorial TeamMarch 15, 2021TwitterLinkedInFacebookEmailCopy to ClipboardTax consultants help individual people, small business owners and large organizations. They work to provide people with financial advice and help others find ways to lower their tax obligations. If you are interested in helping people and you have a knack for numbers, you may want to find out more about becoming a tax consultant. In this article, we explain what the tax consultant does, list the six steps to take for how to become a tax consultant and describe the skills needed for success in this career.What is a tax consultant. A tax consultant is a person who uses their advanced understanding of law to advise clients and client companies on how to navigate tax obligations and financial situation. They interpret complex financial information and help people to remain in compliance and act within the rules and regulations of a law. Ideally, tax consultants help their clients minimize their tax liability through strategic financial planning for the future and careful tax preparation. Here are six core responsibilities of people who work in tax consultation:Meeting with clients and client companies.Calculating and assessing tax liability.Preparing tax returns for clients and client companies.Devising plans and tax strategies for individual clients.Keeping up-to-date with tax laws and regulations.Using computer software to compile and gather data.Related: Calculating Tax Liabilities in 5 StepsHow to become a tax consultant. Here are six steps for starting a career as a tax consultant:1. Research the industry and career. The first step to becoming a tax consultant is to find out as much information as possible about the career and industry. Read books on navigating tax law and search the web to find preliminary information on what a career in tax consultation is like. You may also want to attend a webinar or workshop for aspiring tax consultants.Additionally, you can contact people who offer tax consultation services and speak with them about their careers. In your conversations, you can find out information to help you understand the daily expectations and overall compensation. You can also find out more about job satisfaction and potential opportunities for growth.2. Earn a bachelor's degree. After researching what it's like to work as a tax consultant, the next step in your career journey is to earn a bachelor's degree. Consider a degree in accounting, finance or economics. When enrolled as a full-time student, completing your bachelor's degree should take approximately four years.Completing a four-year degree can help you gain many of the skills and experience you will need for your career, and it can also help you connect with industry professionals, broaden your professional network and gain access to better jobs.Related: What Do Finance Majors Do? A Guide for Students3. Research your state CPA requirements. CPA stands for certified public accountant. Becoming a CPA is not necessary for a career as a tax consultant, but it is a highly sought-after title in the fields of accounting, finance and tax consulting.Each state has its own specific requirements for obtaining an official CPA license. Each state has varying levels of education, experience and preparation requirements, but all states require that candidates take and pass a CPA exam. Depending on your location, you may need between six months to two years of industry experience before you are able to take the CPA exam.4. Apply for an internship. An internship is a professional learning experience, which is sometimes paid or unpaid. Whether paid or not, the majority of benefits come from hands-on experience, networking opportunities and on-the-job training. Typically internships last between one month and nine months, and you may choose to apply for an internship during your last year after school, or you may wait until after you graduate.Gaining internship experience is especially important for aspiring tax consultants, as it's a crucial step for those who wish to advance their credentials. Earning the title of CPA, or certified public accountant, represents the highest certification for tax consultants. Depending on your state laws, the time spent during an internship may be applicable toward earning that title.Related: 10 Benefits of Doing an Internship5. Take the CPA exam and apply for a license. CPA exam is a four-part test, in which each component is completed over the span of 18 months. Regardless of which state you take your exam in, each test is approved and standardized by the American Institute of Certified Public Accountants. The exam tests a person's knowledge and understanding of auditing, financial accounting and reporting, regulation and business and attestation.After completing and passing the four-part CPA exam, you can apply for state licensure. Each state has its own set of requirements for obtaining a license, so be sure to find out what documents you need to send in with your application.Read more: How to Prepare for the CPA Exam6. Apply for a job as a tax consultant. Once you have earned your degree, gained experience at an internship and obtained a certification, it's time to apply for a job as a tax consultant. You may choose to apply for a position in a public accounting firm, specialty tax consulting firm or law firm. There are also many tax consulting positions at government agencies at the local level, state level, and federal level. You may even choose to apply to work for a private corporation or open your own tax consulting business.Skills and attributes for a successful career in tax consultation. Here is a list of eight skills and attributes to develop for having a successful career as a tax consultant:Mathematical ability. Tax preparation and tax consulting require that people have a strong understanding of financial math. Someone in this field should have an aptitude for computation, making mathematical projections and calculating percentages and interest.This career is not the same as an accounting career, however there are many similarities. For this reason, skilled tax consultants should have a firm foundation in math and understand economic and financial principles.Related: How To Prepare an Annual Budget for a CompanyAttention to detail and accuracy. Someone who has excellent attention to detail is thorough when reviewing documents and completing tasks. Tax consultants regularly read through large quantities of financial documents and reports, so it's crucial that they maintain focus while reviewing them. A consultant must be able to identify small inconsistencies or errors so that proper tax information is reported and filed.Companies and individual people rely on the accuracy of a consultant's work. Each number and calculation is important, and proper documentation is necessary for abiding by tax laws, maintaining compliance with tax regulations and helping clients in avoiding further tax obligations.Strategic thinking and problem solving. Large corporations, small businesses and individual people regularly see the guidance of professional tax consultants when facing a large financial burden. In cases like these, it is important that a consultant is able to think strategically about the issue or issues their client is facing. A successful consultants use problem-solving skills to interpret their client needs and they apply creative financial strategies and their in-depth knowledge of tax law to best help them navigate situations and plan for the future.Professional organization. Professional organization refers to the skills and techniques that a person uses at work to best facilitate a productive and efficient routine and environment. This may include the way a person maintains their schedule, cleans their workspace and organizes their files or paperwork.Tax consultants must be organized, because they deal with large quantities of reports, computation models and financial accounting paperwork from their clients and client companies. These documents often need to be handled in a confidential manner, and must be filed accordingly.Also, in order for a consultant to provide accurate and effective tax advice, they need to be sure that they have all of clients' information. This is best done by keeping an organized workspace and maintaining a functional system for both digital and physical files and client information.Read more: 14 Ways To Get Organized at WorkComputer navigation. Tax consultants often use accounting software and financial analysis software. They may also use electronic spreadsheets that they do design themselves. In order to ensure that their financial facts and figures are accurate, it is essential that records and reports are kept electronically. For this reason, tax consultants need to be proficient in using computers and other forms of technology.Verbal communication and empathy. Verbal communication refers to a person's ability to convey their thoughts and ideas through spoken language, and empathy is a person's ability to understand another person's feelings and experiences. Tax consultants regularly help individual people and small business owners. In these instances, it is important that consultants have strong verbal communication skills for relaying information about tax strategy and advice. Also, it's important that consultants are empathetic to the emotional needs and circumstances of their clients.Related: Why Is Empathy Important in the Workplace?Accepting of constructive criticism and feedback. Feedback and constructive criticism are forms of communication that can lead to professional growth. Tax consultants may receive feedback from their bosses, colleagues, clients, client representatives or client companies. For this reason, a successful consultant needs to be able to accept feedback and workplace suggestions well.It's important that they listen to the people advising them, and they should appreciate feedback and use it as a way to grow and develop. To do this, a consultant can use active listening skills, ask clarifying questions and conduct a self-analysis to see what improvements can be made.Dedication to continued learning. It is important that tax consultants are highly dedicated to their professional growth and continued learning. Tax law and tax regulations are regularly updated and changed to reflect new initiatives, social concerns and economic changes. It's important that consultants are aware of these changes so they can provide the best advice for their clients.Additionally, if a tax consultant has earned their CPA license, to maintain that license, there are multiple stipulations for continuing education. These requirements regularly include formal education hours including courses on ethics, compliance and changing tax law. To meet these requirements, a tax consultant may participate in workshops, enroll in physical or online courses or attend conferences.Related Articles. At-Home Jobs That Pay Over $40K With No College Degree. 12 High-Paying Jobs That Don’t Require a Bachelor’s Degree. Employers Virtually Interviewing Now.
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Result 16
TitleWhat Can You Expect From a Career in Tax? | Bright Network
Urlhttps://www.brightnetwork.co.uk/career-path-guides/accounting-audit-tax/career-in-tax/
DescriptionWhy work in tax? Here are the different jobs you could be doing if you consider a career in tax as well as the skills needed
Date
Organic Position15
H1What can you expect from a career in Tax?
H2Tax at a glance
Careers in tax: Different roles explained
Your day-to-day work
Work-life balance
What types of firms can you work for?
Skills and qualifications
Getting a foot in the door
Salary
What to do afterwards
To sum up…
H3Compliance
Consultancy
Accountancy firms
Tax advice firms
In-house
H2WithAnchorsTax at a glance
Careers in tax: Different roles explained
Your day-to-day work
Work-life balance
What types of firms can you work for?
Skills and qualifications
Getting a foot in the door
Salary
What to do afterwards
To sum up…
BodyWhat can you expect from a career in Tax? As a tax expert, you’ll certainly hunt down creative solutions to some surprising problems. Here’s a look at careers in tax and what you’d do in a day at the office.Imagine your life as a tax advisorTax at a glance. Tax is an unavoidable fact of life – it affects every person, company and organisation. Everyone wants to save money on their tax bill and everyone wishes someone else would do the paperwork for them. That's where tax professionals come in.People employ tax firms to:Know tax lawFind creative ways to save moneyDo all the calculationsDo the paperworkExplain what they're doing in simple termsCareers in tax: Different roles explained. A tax role has two main parts: compliance and consultancy.Compliance. Compliance is the nitty-gritty of tax – the paperwork. One key compliance job is to complete your client’s tax return according to the current regulations and file it on time. Depending on your specialism, you might do calculations, accounting and paperwork for things like setting up family trusts or estate planning. At the beginning of your career, you can expect to focus on compliance while you learn the ropes.Consultancy. Consultancy is the problem-solving side of the tax business. Tax advisors make sure their clients’ finances are tax-efficient (simply put, they find ways for their clients to pay the minimum tax possible). It means knowing tax regulations inside out and being able to take advantage of all the available tax structures, tax breaks and loopholes. This is what you’ll focus on as a qualified tax advisor.There are three main tax areas:Corporate tax – managing tax for companies or corporations. There are specialisms within this, such as transfer pricing.Personal tax – managing tax for individuals. Specialisms include estate planning and high net worth individuals.Indirect tax – managing tax on goods and services, such as VAT on products. This is different from tax on personal income or company profits.Your day-to-day work. On an average day at the office, you might do some of these things:Work on or check over a tax return for a clientReview a change in tax legislation and report back to your colleaguesCollate information on a client’s tax position to prepare for a meetingCorrespond with HMRC to sort out any queries about a client’s taxesMeet with a client to explain their options for tax efficiencyExplain to a high net worth individual how their country of residence will affect their taxCalculate your client’s potential taxes to work out which financial arrangement is most tax-efficientSet up a family trust or plan the best way for someone to leave their estate when they dieWork-life balance. In principle, tax is a nine-to-five job but you will need to work hard. In your first few years, you’ll work towards qualifications as well as doing your job. You’ll do most of it in your own time.Tax has very busy periods, particularly in January when tax returns are due. You can expect to work some evenings and weekends.What types of firms can you work for?Accountancy firms. These firms usually offer their clients full accountancy services, including audit, risk management and corporate finance. They range from medium to large. The largest are the Big Four (Deloitte, EY, KPMG and PwC) which also offer a range of consultancy services. Tax advice firms. Often boutique and specialist, these focus on tax. They may cater to companies or individuals.In-house. Some companies have in-house tax professionals to handle their own taxes. Depending on the company’s size, the tax department could be one person, twenty or hundreds.Skills and qualifications. While numeracy is important, tax companies aren’t looking for mathematicians. They want people who can interpret complex legislation and explain clients’ options in plain English.You need to excel at:CommunicationNumeracyTime managementCommercial awarenessProblem-solvingAttention to detailOrganisationLearn more about the skills you'll need to excel in a career in tax. During your first years in tax you’ll work towards the qualifications you need for your role. Once you have two years of experience in tax you can take the ATT (Association of Taxation Technicians) exam to qualify as a tax technician. You can follow this with the CTA exam to become a Chartered Tax Adviser.Getting a foot in the door . A visit to one of the Big Four accountancy firms is a good first step towards your tax career – even if you don’t plan to work somewhere like that. Try to win yourself a place on one of their introductory programmes. You’ll need to apply in the first term of your first year at university.A summer internship will also get you off to a great start. Again, check out the Big Four and look at smaller tax firms to see what they have to offer.Salary . As a graduate trainee in tax, you’ll earn around £25,000 to £35,000. You can expect a pay rise of about £10,000 when you qualify as a CTA.Tax has a clear career progression and your salary should rise steadily. After five years you might be earning £50,000 and after ten years it could be £100,000. Partners in the Big Four can earn over £1 million.What to do afterwards. A tax career can give you the business experience to move into business consultancy roles. It can be quite hard to move sideways into a related accountancy role – you may have to re-qualify or take a significant pay cut.Once you’ve built up some experience, there are ways that you can take your accountancy career elsewhere.You could move into a civil service role which can offer a good work-life balance and benefits. Or you could strike out on your own. As a freelance tax professional you’re likely to handle personal taxes or those of smaller companies. You can set your own hours and work from home.To sum up…. Tax is a career where communication skills are even more valuable than numeracy.Day to day, you’ll navigate tax law to find creative ways to boost your clients’ tax efficiency. You’ll explain complex regulations in simple terms. There will also be paperwork and calculations where you’ll need to be meticulous.The salary is competitive and the job security is high – after all, there will always be taxes.Discover tax opportunities with Bright NetworkConsidering a career in tax? Browse graduate jobs and take the next step towards your career progression.Browse graduate jobs . ←Prev:What is Public Sector Accounting?→Next:What is Professional Services?
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Result 17
TitleHow To Choose A Tax Advisor - WealthAbility
Urlhttps://wealthability.com/blog/how-to-choose-a-tax-advisor/
DescriptionChoosing the right tax advisor potentially can mean the difference in millions of dollars over your lifetime. Read five tips here
DateDec 23, 2021
Organic Position16
H1How To Choose A Tax Advisor
H21. Find High-Caliber Advisors
2. Choose Wisely
3. Create a Long-Term Strategy
4. Meet Regularly
5. Build a Team
Bottom Line for Choosing a Tax Advisor
Episode 102: The Value of Core Strength with Jay Steinfeld
Episode 101 – Inflation and the Feds with Dr. Murray Sabrin
H3
H2WithAnchors1. Find High-Caliber Advisors
2. Choose Wisely
3. Create a Long-Term Strategy
4. Meet Regularly
5. Build a Team
Bottom Line for Choosing a Tax Advisor
Episode 102: The Value of Core Strength with Jay Steinfeld
Episode 101 – Inflation and the Feds with Dr. Murray Sabrin
BodyHow To Choose A Tax Advisor One of the most important steps in building a tax strategy or wealth strategy is choosing the right tax advisor who can help you formulate and execute those strategies on an ongoing basis. Every dollar you spend in taxes is a dollar that you cannot spend personally or invest. The right tax advisor will help you keep more of your own money.   It’s a complex challenge. In the U.S., the federal tax code plus all of the related regulations and case law spans tens of thousands of pages. Add state and local taxes on top of that, plus other countries’ taxes if you’re doing business internationally, and it’s easy to see why a tax advisor is critical.   How do you choose a tax advisor? Here are 5 steps for selecting the right tax advisor and making the most of the relationship. 1. Find High-Caliber Advisors. Tax advisors are everywhere. There are Enrolled Agents and Certified Public Accountants, plus a host of others with a Preparer Tax Identification Number, which allows them to prepare federal tax returns for compensation.   Unfortunately, not all tax advisors are created equal. Every year at tax time, new tax preparers pop onto the market promising to help people with their returns and then disappear on April 16. Forty-six states allow people to work as independent tax preparers without testing or continuing education requirements. According to The Pew Charitable Trusts, that makes tax preparation a less-regulated service than hairstyling, which requires licensing in all 50 states.   While it’s relatively simple to screen for basic qualifications, it’s far more challenging to identify the best of the best. That’s the primary reason we created The WealthAbility Network®. We’ve assembled a community of passionate accounting professionals who are vetted and trained in our proprietary system for permanently reducing taxes. This way, WealthAbility® clients can work one-on-one with a tax advisor who is guaranteed to follow the WealthAbility System® and support you in your ongoing financial education. 2. Choose Wisely. When you interview potential tax advisors, be on the lookout for a few key characteristics. First, you want to find a tax professional who is passionate about how you can apply the tax law to support your financial future. And by passionate, I mean this person should be as intense about tax as you are about your business. He or she should be bursting with ideas. You don’t want a typical accountant who thinks in a straight, orderly line. You’re looking for someone who seeks out creative ways to legally save your money from the tax collector.   You’re also looking for someone who is a good fit for you. Your tax advisor will have access to some of your most personal information, and it is essential that you feel comfortable working with them. As you meet with potential advisors, think about whether they are someone you'd enjoy having as part of your wealth team and with whom you'd be comfortable sharing details about your family, business and income.   Next, ask potential advisors about how they approach handling IRS audits and request specific examples. Some tax advisors will caution their clients not to take certain legitimate deductions in order to avoid “raising a red flag” with the IRS. That's not good tax advice; that's a sign that the advisor is afraid of the IRS. You're looking for a tax advisor who will handle all communication with the IRS on your behalf. After all, the IRS knows a lot more about taxes than you do. You’re looking for an expert who will represent you and knows more about taxes than the IRS.   Finally, be sure to check their qualifications. While not all tax professionals are Certified Public Accountants, or CPAs, the best ones have this certification. CPAs are the most knowledgeable about reducing taxes and are best positioned to provide you with a thorough analysis of how you can create a tax plan that will lead to significant savings. You can check a tax advisor’s credentials through CPAverify.org. 3. Create a Long-Term Strategy. Once you’ve selected a tax advisor, you should work with them closely to create a long-term tax strategy. This process typically takes several months. You’ll define your goals, explore various opportunities and then map out a plan that will allow you to create permanent tax savings. It is a comprehensive review of both your current situation as well as where you’d like to be 5, 10, even 50 years down the road.   Governments incentivize certain types of activities through tax law. In the U.S., business owners, real estate investors and commodity providers, for example, are eligible for significant tax incentives because lawmakers recognize their work as drivers of the economy. Your tax advisor can help you evaluate these and other opportunities that can become part of your overall wealth-building strategy.   Remember: You’re not just looking for one-time deductions to reduce your taxes this year. You’re seeking a tax strategy that generates lasting savings that will allow you to build your wealth faster than ever before. 4. Meet Regularly. If you see your dentist more often than you see your tax advisor, something is wrong. You’re either dealing with some unfortunate dental problems, or you’re not being strategic with your finances.   Too many business owners meet with their advisor once or twice a year, typically just in time to prepare a tax return. The problem with this is that it’s nearly impossible to create and maintain a comprehensive tax strategy in this way. You should expect to talk with your advisor regularly to discuss your goals, provide updates on your business and make strategic moves to support your financial dream.   The tax strategy that you created in your initial work with your advisor is not a static document. Expect to make adjustments and updates regularly as your life and business goals and the tax law change.     5. Build a Team. Your tax strategy shouldn’t exist in a silo. It is one piece of your overall business and wealth strategy. That means your tax advisor needs to collaborate and coordinate with other members of your advisory team, such as your bookkeeper, attorney, investment professional and banker.   It’s also important to recognize that tax strategies are not one-size-fits-all. There is a lot of flexibility in how you structure your business and other transactions, and you will want to create a structure that fits you and your desired lifestyle. By positioning your tax advisor as part of your overall advisory team, you’ll be able to shape your own financial destiny.   Bottom Line for Choosing a Tax Advisor. Choosing the right tax advisor potentially can mean the difference in millions of dollars over your lifetime. Take the time to find a top-notch advisor who understands your vision and tax strategy and make them a part of your overall team. Your future self, and your future bank account, will thank you. Recent Posts Episode 102: The Value of Core Strength with Jay Steinfeld. Jan 7, 2022 | News, PodcastEpisode 102: The Value of Core Strength with Jay SteinfeldDescription: Discover the ingredients required to transform a good business into a great business. In this episode, Jay Steinfeld, founder of Blinds.com, joins Tom to discuss how he applied new technology and... read more Episode 101 – Inflation and the Feds with Dr. Murray Sabrin. Dec 23, 2021 | News, PodcastEpisode 101: Inflation and the Feds with Dr. Murray Sabrin Description: Inflation is at a 40-year high. Something is causing it and something should be done about it. In this episode, joining Tom is Dr. Sabrin to help us discover how to navigate an inflated economy... read more Phone: 480-565-8000 Toll-Free: 1-888-801-8944 Email: [email protected] Follow Us FollowFollowFollowFollow Menu FAQ Blog Login Contact Careers Schedule a Call WealthAbility Network Wealth Evaluator Tax-Free Wealth Book Tom Wheelwright, CPA The WealthAbility Show Get Tom’s Weekly Report Copyright © 2021 WealthAbility, LLC | Learn more about our Terms of Use DISCLAIMER: WealthAbility® does not provide tax, legal or accounting advice. The materials provided have been prepared for informational purposes only, and are not intended to provide tax, legal or accounting advice. The materials may or may not reflect the most current legislative or regulatory requirements or the requirements of specific industries or of states. These materials are not tax advice and are not intended or written to be used, and cannot be used, for purposes of avoiding tax penalties that may be imposed on any taxpayer. Readers should consult their own tax, legal and accounting advisors before applying the laws to their particular situations or engaging in any transaction.   CREDIT: CASHFLOW Quadrant was created by Robert Kiyosaki. To learn more about the power of CASHFLOW Quadrant, go to www.richdad.com. Used with permission of CASHFLOW Technologies, Inc. All rights reserved. This grant of permission is not an endorsement of Mr. Wheelwright, WealthAbility®, LLC or the content of this course. This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Cookie settingsACCEPTPrivacy & Cookies Policy Close Privacy Overview. This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience. Necessary Necessary Always Enabled Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information. Non-necessary Non-necessary Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website. SAVE & ACCEPT Top Mistakes and Opportunities in the 2017 Tax Act Live Event November 21st – 23rd, 2019 Join Tom Wheelwright in taking a deep dive into the Tax Law and how you can leverage it for your clients’ success in 2020.This exclusive TCJA event will show you how to use the tax law to significantly reduce your clients’ taxes.Tom will cover the changes in the tax law, as well as the implications of those changes for your tax strategy.   Don’t Miss This Exclusive Live Event REGISTER NOW ×
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Result 18
TitleHow to Become an Accountant: Accounting Degrees and Careers
Urlhttps://www.northeastern.edu/bachelors-completion/news/how-to-become-an-accountant/
DescriptionInterested in becoming an accountant? Explore the steps you can take to become an accountant, including which degree you should earn for your career goals
DateNov 17, 2021
Organic Position17
H1How to Become an Accountant: Accounting Degrees and Careers
H26 Steps to Becoming an Accountant
Accounting Degree Options
Education for Success
H31. Earn your bachelor’s degree
2. Gain relevant work experience
3. Sit for the CPA exam
4. Apply for state licensure
5. Get an entry-level job
6. Continue your education
1. Associate Degree
2. Bachelor’s Degree
3. Master’s Degree
4. Certificates
H2WithAnchors6 Steps to Becoming an Accountant
Accounting Degree Options
Education for Success
BodyHow to Become an Accountant: Accounting Degrees and Careers By Tim Stobierski November 17, 2021 Share: As of 2018, accountants earn an average salary of $73,560 annually—an impressive 31 percent more than the $56,310 earned by the average workers across all industries. Additionally, the industry is estimated to grow 7 percent, adding about 135,000 job openings each year through 2030 With a high salary and job security unrivaled by many other occupations,  becoming an accountant is an attractive career choice for many. But the question is: How does someone actually become an accountant? Ultimately, it comes down to having the right education and using that education to find and apply to the right jobs. 6 Steps to Becoming an Accountant. The most common path to becoming an accountant is to become a Certified Public Accountant (CPA), which requires you to sit for, and pass, the Uniform CPA Exam, administered by the American Institute of Certified Public Accountants (AICPA). The exam is designed to measure your proficiency in the skills and knowledge that you’ll need to effectively perform your job responsibilities. It consists of four separate four-hour sections, each of which covers a different focus area: Auditing and Attestation, Business Environment and Concepts, Financial Accounting and Reporting, and Regulation. Because each state has the ability to set its own requirements for licensure, the National Association of State Boards of Accountancy (NASBA) is a great resource that you can turn to determine the eligibility terms specific to your state or jurisdiction. Generally speaking, though, these requirements include: Post-secondary education: Most states require that candidates have earned at least a bachelor’s degree in order to sit for the CPA exam. Accounting coursework: Some states require that this bachelor’s degree specifically be accounting focused (such as a BA in Finance and Accounting Management), while others are more flexible. At a minimum, all states require that candidates have earned a certain number of credits in accounting-related coursework. (24 credit hours in financial accounting is a common requirement.) Work experience: While no states require work experience to sit for the exam, developing your skills in a real-world setting provides insight that can help you successfully pass the exam. For this reason, internships and co-op experiences are highly valuable. With these requirements in mind, following the steps below can be a great entry point for a career in accounting. 1. Earn your bachelor’s degree. As mentioned above, all states require that candidates for accounting licensure have earned at least their bachelor’s degree from an accredited institution. Though some states may allow for degrees other than accounting degrees, others specifically require a bachelor’s degree in accounting. If you are unsure of which state or jurisdiction you will ultimately work in, earning your BA in Accounting is likely to be the safest bet, making it easier to transfer between jurisdictions. 2. Gain relevant work experience. While not required to sit for the CPA exam, gaining real, hands-on experience is a great way of reinforcing the lessons of your degree, and may ultimately make it easier for you to pass the exam. It can also help you test the waters in a number of different careers. For this reason, when choosing a bachelor’s degree program, it’s important to find one that offers experiential learning components such as internships or co-op experiences. 3. Sit for the CPA exam. After earning your undergraduate degree and ensuring that you meet all of the eligibility requirements for your jurisdiction, you can sit for the CPA exam. The exam consists of four sections, and you’ll have to pass each one with a score of at least 75 percent. If you do not pass a particular section, you can sit for just that (or those) sections, but you must pass all four sections within 18 months. Testing typically takes place at the following times each year: January 1 through March 10 April 1 through June 10 July 1 through September 10 October 1 through December 10 4. Apply for state licensure. After passing the CPA exam, you will need to actually apply for state licensure. The specific steps involved in this process will vary by state. 5. Get an entry-level job. Though it is not required that you have work experience in order to sit for the CPA exam, it is invaluable in helping you land a job post-licensure. As in most industries, companies prefer to hire employees who already come with a certain level of experience. Though you might have the ultimate goal of working in management or a more advanced accounting role, you will have greater success on the job hunt immediately after graduation by applying for entry-level positions. These roles will allow you to gain even more experience that you can leverage to advance in your career. The job title of “accountant” is likely to be the position that you are most qualified to pursue, but it isn’t the only path forward for you in your career. Other job titles (and their salaries) are shown below. Though they are related to accounting, each has its own unique differences. Having earned a bachelor’s degree in accounting and your CPA license can help you to land one of these jobs: Accountant: $73,560 Personal Financial Advisor: $89,330 Auditor: $73,560 Tax Adviser: $55,640 Budget Analyst: $78,970 Financial Analyst: 83,660 6. Continue your education. Many states require that individuals continue their education in order to maintain their license and certification. If you work in a state that requires ongoing professional development, it is critical that you stay up to date on all requirements. Even if you don’t work in a state that requires additional education, earning a certificate in a particular specialization or pursuing a master’s degree in accounting can be beneficial, making it easier to advance in your career and earn a higher salary. Accounting Degree Options. While in most states you will be required to earn a bachelor’s degree in accounting or a related field in order to sit for the CPA exam, that is not your only educational option. Below, we explore other degree options that can prepare you for a career in accounting and help you advance beyond the entry level. 1. Associate Degree . Earning an associate degree in accounting may not be enough to prepare you to sit for the CPA exam, but it can prepare you for an entry-level career in accounting that does not require licensure or certification. It may be an ideal degree for someone who isn’t sure they want to become an accountant, or for someone who would like to save money on the cost of tuition before enrolling in a full bachelor’s degree program. If you are considering earning an associate’s degree as a stepping stone to a full bachelor’s degree, it is important to note that classes and degrees don’t always transfer credit-for-credit. Before committing to a degree, you should understand which credits will carry over so you can choose the best degree for your goals. Some institutions, like Northeastern, have dedicated agreements and partnerships with community colleges to help make the process of transferring easier for students. 2. Bachelor’s Degree. A bachelor’s degree is typically seen as the lowest level of education that you will need to sit for the CPA exam and become a fully-licensed accountant. While some states do not require that your bachelor’s degree specifically be in accounting, others do. Therefore, if you know for certain that you would like to become an accountant but are unsure of exactly where you will ultimately be working, it likely makes sense to earn your bachelor’s degree in accounting. (This will also make it easier to transfer between jurisdictions later, if necessary.) Whether you will need to earn a bachelor’s degree specifically in accounting or you can get by with a degree in a related field will depend on the jurisdiction you live and work in. Precise coursework will naturally vary depending on the institution from which you are earning your degree, and the particular concentration you are pursuing (if any), but will generally include a focus on financial auditing, preparing federal income taxes, preparing financial statements, and cost accounting. Specifically earning a bachelor’s degree in accounting can bring a number of benefits to your career. The network that you develop during that time and the connections that you make with your professors, instructors, and students can have a lasting impact on your career, opening doors that may otherwise have been kept shut. 3. Master’s Degree. Earning a graduate degree like a Master of Science in Accounting can be a smart decision for anyone who would like to advance to a more senior-level accounting position within their organization or industry. Graduate-level degrees in accounting are more comprehensive than undergraduate degrees and are designed to prepare students to work in a managerial or leadership capacity. They often (though not always) include specialization or concentration. For example, Northeastern’s Master of Science in Accounting offers two specializations, in auditing and taxes. Because continuing education and professional development is a requirement for licensure in many states, many accountants choose to earn their master’s degree over the course of their careers. 4. Certificates. Not everyone must become a licensed accountant to put accounting skills to use. Many professionals perform accounting duties or interact with the accounting department of their organization and thus may benefit from learning about accounting best practices; however, they do not necessarily need to earn a full degree in accounting. For those individuals, earning a certificate in accounting may be a smart move. Education for Success. Becoming an accountant requires a certain level of education, experience, and expertise to pass the CPA exam. While a bachelor’s degree is often enough to kickstart your career, earning a master’s degree or continuing your education in other ways can also bring a number of career benefits. Choosing the right path forward simply requires that you understand your personal career goals. Once you do, finding the right path forward should be easy. Interested in taking the next step on your path to becoming an accountant? Learn more about how a bachelor’s degree, master’s degree, or certificate in accounting from Northeastern University can help you reach your career goals. About Tim Stobierski Tim Stobierski is a marketing specialist and contributing writer for Northeastern University. Related Articles 12 In-Demand Finance and Accounting Careers December 7, 2021 Finance vs. Accounting: Which Should You Study? December 5, 2021 The Top Paying Entry-Level Finance Jobs in 2022 December 1, 2021 Popular Articles
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Result 19
TitleWhat Is a Tax Consultant, and What Do They Do? - SmartAsset
Urlhttps://smartasset.com/financial-advisor/what-is-tax-consultant
DescriptionA tax consultant is a tax expert who can help you minimize your tax liability. Learn what a tax consultant is, how to find one and more here
DateApr 9, 2021
Organic Position18
H1What Is a Tax Consultant, and What Do They Do?
H2What Does a Tax Consultant Do?
How Much Does a Tax Consultant Cost?
Tax Consultants vs. Tax Preparers
How to Find a Tax Consultant
Requirements for Becoming a Tax Consultant
Bottom Line
Tips for Reducing Your Tax Liability
H3
H2WithAnchorsWhat Does a Tax Consultant Do?
How Much Does a Tax Consultant Cost?
Tax Consultants vs. Tax Preparers
How to Find a Tax Consultant
Requirements for Becoming a Tax Consultant
Bottom Line
Tips for Reducing Your Tax Liability
BodyWhat Is a Tax Consultant, and What Do They Do? Rickie Houston CEPF® Apr 09, 2021 A tax consultant can help you minimize your tax liability, capitalize on tax deductions and manage your tax situation. With more expertise than standard tax preparers, tax consultants can help with tax planning, inheritance issues, charitable giving and other complex tax needs. Often, these advisors have training in tax law or accounting. Fees vary, depending on the scope of work and the skill and experience of the tax consultant. If you need further help with your taxes, investments or long-term financial plan, a financial advisor would be helpful. What Does a Tax Consultant Do? Tax consultants are professionals who specialize in tax law and financial-related counseling. They advise clients on income tax returns and a range of financial matters, including trust, estate and retirement taxes. They also must stay informed on the most recent tax requirements and law changes, both on the federal and state levels. Tax consultants offer a variety of services to their clients. These can include: Preparing your tax return Looking for deductions to lower your tax burden Minimizing your tax liability in retirement Dealing with taxes on rental property income Helping manage your capital gains taxes Sorting through the tax implications of life events, like marriages, divorces, deaths and births Not unlike individuals, businesses and their owners also need help with taxes. In fact, corporate tax law is often more intricate than the rules surrounding individual income. As a result, many tax consultants specialize in business tax services. This can involve minimizing a company’s tax liability, ensuring the company is taking advantage of all tax benefits and more. Tax consultants usually work for financial consulting firms, public accounting firms or government agencies. On the other hand, some may operate completely independently. In many cases, tax consultant services are available online, though you can also access their services through an office. Clients range from individuals and families to organizations and corporations. How Much Does a Tax Consultant Cost? Tax consultant fees vary widely, as they’re based on several key factors. Location plays a major role, with prices peaking where the cost of living is highest. Another factor is the complexity and scope of your tax situation. In short, the more the tax consultant has to deal with, the more you’ll pay. Also, if your situation requires highly specialized knowledge about tax code, their fees will be commensurate with their qualifications. Let’s say you only need a simple tax return prepared for you and your family. Based on 2019 data from the National Society of Accountants, the average tax return costs around $300 to prepare. If you expect to receive a sizable payment back from the federal or state government, then this is a small price to pay to ensure things are handled right. If you decide to work with an online tax consultant, you’ll probably incur a fixed fee of anywhere from $25 to $1,200, according to Business.com. Depending on the specifics of your situation, this may or may not be a worthwhile price. Business owners may opt to take advantage of a customized plan from a tax consultant. Again, according to Business.com, fees for this could range as high as $2,000 a year. Of course, if you want to spend your time focusing on your company and not on taxes, this definitely could be worth it. Tax Consultants vs. Tax Preparers. Before you begin looking for a tax consultant, it’s important to make sure they’re exactly what you need. For instance, if you simply need help filing your taxes, a tax preparer might make more sense. Beyond that, a tax consultant is likely the way to go. A tax preparer is the simplest version of a tax professional. Rather than learn about extensive, specialized tax codes, they focus solely on preparing income tax forms for those who need to file. This could include your Form 1040, Form 1099 and others. While tax preparers often work with individuals, some may help business owners file for their companies. Tax consultants work with a similarly wide variety of clients. But where they differ is in the complexity of the services they provide. For example, a tax consultant can help you manage your tax issues during a divorce, a probate case and other situations. On the other hand, a tax preparer sticks to only basic income tax returns. The most qualified tax consultants hold licensure as a certified public accountant (CPA) or an enrolled agent (EA). These consultants possess both the formal education and the experience required to provide comprehensive strategic advice. However, there are some tax consultants who are merely registered with the IRS. That means their tax advising comes without a formal education to complement their knowledge. How to Find a Tax Consultant. Tax consultants possess a range of different specialties and qualifications, so it’s important to do your homework when choosing one. If you can’t find the right one at a firm near you, you may want to consider online consulting. This option is a more convenient form of tax advising that allows you to work solely through the web. Perhaps the best way to come across tax consultant recommendations is to speak with friends and family who have used one. By speaking with someone you trust, you can feel confident that the guidance you’re receiving is reliable. Outside of this method, there are a number of online resources that can help you find a tax consultant. When you start to meet with potential consultants, look for key characteristics. More specifically, make sure you can easily contact them and trust them enough to hand over all of your personal records. Qualifications and the subsequent proof of them is always a plus, and you should try to seek out any past history or clients they may have available. In addition, a key trait of a good tax consultant is excellent written and verbal communication skills. They should be able to incorporate current tax law findings and your research into a strategy that’s easy to comprehend. This is crucial when it comes to ensuring that you fully understand the tax strategy that’s being implemented in your situation. Requirements for Becoming a Tax Consultant. Tax consultants do not have a formal certification process. However, they often have a bachelor’s degree in accounting, finance, tax law or another related field. Additionally, paid consultants or advisors who prepare tax returns must become registered tax return preparers under IRS law. The IRS also requires these tax return preparers to register for a Preparer Tax Identification Number (PTIN). In addition, preparers also have to take the Registered Tax Return Preparer competency test. However, some tax return preparers don’t have to take this exam. Professionals who don’t have to take the exam include CPAs, EAs, attorneys, supervised preparers and preparers who don’t prepare or assist in the preparation of any Form 1040 series returns. The IRS provides the PTIN number option on an active or provisional basis. Specifically, tax return preparers who must pass the competency test receive provisional status, while CPAs, EAs and attorneys automatically receive active status. Additionally, paid tax return preparers must pass both a tax compliance check and a sustainability check. All preparers who meet these requirements become registered preparers under IRS law. Bottom Line. Tax consultants typically have extensive knowledge about tax codes, which allow them to help you lower your taxes. Generally, this kind of advisor works for you year-round, as opposed to a tax preparer, whose job is seasonal. Although you don’t have to hire a consultant, it’s important to ask yourself whether you could benefit from having one. Tips for Reducing Your Tax Liability. Consider using a financial advisor to help you minimize your tax liability for retirement. Luckily, finding a local financial advisor doesn’t have to be hard. In fact, SmartAsset’s free tool can match you with up to three financial advisors in your area, with the final choice of who to work with being up to you. Get started now. Keep in mind that there are certain actions you can take yourself to reduce your tax liability. When tax time comes, you’ll want to consider making tax deductions to minimize your taxable income. You should also ask yourself whether you could benefit from a tax shelter or a tax extension. Photo credit: ©iStock.com/Bill Oxford, ©iStock.com/Squaredpixels, ©iStock.com/utah778 Rickie Houston CEPF® Rickie Houston writes on a variety of personal finance topics for SmartAsset. His expertise includes retirement and banking. Rickie is a Certified Educator in Personal Finance (CEPF®). He graduated from Boston University where he received a bachelor’s degree in journalism. He’s contributed to work published in the Boston Globe and has worked alongside award-winning faculty for the New England Center of Investigative Reporting at Boston University. Rickie also enjoys playing the guitar, traveling abroad and discovering new music. He is originally from Wilmington, North Carolina. Related Posts 7 Mistakes Everyone Makes When Hiring a Financial Advisor 20 Questions to Tell If You're Ready to Retire The Worst Way to Withdraw From Your Retirement Accounts Read next article More From SmartAsset. Compare Up to 3 Financial Advisors Near You Mortgage Calculator How Much Do I Need to Save for Retirement? Calculate Your Capital Gains Tax Should I Refinance My Mortgage? Compare Mortgage Rates Subscribe to our Newsletter Categories. Advisor Resources Auto Career Checking Account Credit Cards Credit Score Data Studies Debt Estate Planning Financial Advisor Insights Insurance Investing Life Insurance Mortgage Personal Finance Personal Loans Refinance Retirement Small Business Student Loans Taxes OK Cancel An error occurred Please reload the page.
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Result 20
Title8 Questions to Ask Your Tax Advisor | RamseySolutions.com
Urlhttps://www.ramseysolutions.com/taxes/questions-to-ask-tax-advisor
DescriptionAre you getting the most value out of your tax advisor? Here are some questions you might want to ask your tax pro during tax season and beyond
DateDec 3, 2021
Organic Position19
H18 Questions to Ask Your Tax Advisor
H21. What Does Your Tax Preparation Process Look Like?
2. How Can You Help Me With My Tax Goals?
3. What Information Will You Need From Me to File My Taxes?
4. What Can I Do Differently to Improve My Tax Situation?
5. Based on My Situation, What Other Things Should I Try and Do This Year?
6. Can I Call You Throughout the Year for Tax Advice?
7. How Will My Side Hustle Affect My Taxes?
8. What Other Services Do You Offer?
Find a Tax Pro
H3
H2WithAnchors1. What Does Your Tax Preparation Process Look Like?
2. How Can You Help Me With My Tax Goals?
3. What Information Will You Need From Me to File My Taxes?
4. What Can I Do Differently to Improve My Tax Situation?
5. Based on My Situation, What Other Things Should I Try and Do This Year?
6. Can I Call You Throughout the Year for Tax Advice?
7. How Will My Side Hustle Affect My Taxes?
8. What Other Services Do You Offer?
Find a Tax Pro
Body8 Questions to Ask Your Tax Advisor 8 Minute Read | December 03, 2021 Ramsey Solutions Ramsey Solutions Between gathering all your tax forms and trying to make sense of all these new tax laws and waking up in the middle of the night wondering if you filed your taxes correctly, it’s no wonder most folks are stressed about tax season. That’s probably why more than 74 million tax returns were filed with help from a tax professional during the 2020 tax season.1 More than 74 million tax returns were filed with help from a tax professional during the 2020 tax season. If you have a tax advisor that you turn to year after year to help file your taxes, that’s great! But there’s a good chance you’re not taking full advantage of the wealth of knowledge and expertise they have to offer. "Those that lean on us throughout the year—whether it be by email, phone or meeting in person, depending on the depth of their questions—will create an opportunity to position themselves better for the current year as well as future years," says Chad M., an Endorsed Local Provider (ELP).   Here are some questions you might want to ask your tax pro during tax season and beyond. 1. What Does Your Tax Preparation Process Look Like? This is where you and your tax pro get on the same page about how you both want to communicate throughout the tax-filing process. Are you more comfortable setting up a meeting or two and doing everything in person or would you rather communicate completely through email? Maybe setting up phone calls works for the two of you. Get your taxes done right by the best in the business! However you want the tax preparation process to look, it’s important to set those expectations from the get-go and find an advisor who will work with your schedule and preferences. 2. How Can You Help Me With My Tax Goals? Do you want to make sure your taxes are done right so the IRS doesn’t come knocking on your door? Do you want to figure out whether or not to take the standard deduction or itemize your deductions? Share your goals and tax worries with your tax pro and ask how they plan to walk you through the tax-filing process. Knowing how your tax pro works and having them share their process with you can help get rid of some of your deepest, darkest fears when it comes to tax season! 3. What Information Will You Need From Me to File My Taxes? Giving your tax advisor a clear picture of your finances will help them file your tax return accurately and help them quickly identify ways to save you money. Your tax advisor will probably ask you to be prepared to share the following information with them: Identification information for you and your dependents. That means having Social Security or Individual Taxpayer Identification Numbers (ITIN) with dates of birth for anyone who’ll be on your tax return. This way, your tax advisor can verify who you are, and the IRS won’t send back a tax return because the numbers don’t match (it happens a lot). A copy of your most recent tax return. Although things can change from year to year, having a copy of last year’s return can give your tax advisor an idea of what deductions and tax credits you qualify for and save you both some time in the process. Income statements and tax forms. Once you gather your W-2 from your employer or all those 1099 forms (if you’re a freelancer or independent contractor), your tax advisor will need copies of those tax forms in order to file your taxes. Proof of expenses. If you plan to itemize your deductions this year instead of taking the standard deduction, you’ll need to have documents on hand to prove those expenses. Hope you saved your receipts! To make sure you have everything you need to file your taxes, you can also download our free tax preparation checklist. 4. What Can I Do Differently to Improve My Tax Situation? If your tax return was a target, the bullseye would be $0. You don’t want a giant tax bill—that means you didn’t have enough money taken out of your paycheck for taxes. And that huge tax refund? That’s not free money—it’s your money, which you’ve been loaning too much of to the government throughout the year (with no interest, by the way). Great tax professionals won’t just help you file your taxes, collect their fee, and then disappear. They’ll be there after you file to answer your questions about your tax situation. Not only that, they can show you how to adjust your tax withholdings and get closer to that sweet spot where you’re paying almost exactly what you owe to Uncle Sam—no more and no less. And this goes beyond just your withholdings! Your tax pro can suggest making some tweaks in different areas of your finances. They can walk you through how your investments are taxed, the tax implications of buying or selling a home, or when it’s a good time to incorporate your side hustle into a small business. 5. Based on My Situation, What Other Things Should I Try and Do This Year? Like Ferris Bueller once said, “Life comes at you fast.” And if you don't stop and look around once in a while, you could miss out on some big tax breaks or adjustments you need to make during any given tax year. Did you get married, have a baby, or buy a house in the past year? Those are just a few major life changes that can change your tax situation—and your tax pro can help you understand what those changes mean for you. And beyond taxes, your tax pro could also suggest taking steps to help protect your assets or help you make more progress on your financial goals for the rest of the year. Maybe you need to get term life insurance once you get hitched or set up a trust to protect your estate. Your tax pro can provide some really valuable insight into those areas! 6. Can I Call You Throughout the Year for Tax Advice? Would you rather work with some Joe Schmo who just files tax returns during tax season and then vanishes into thin air the rest of the year, or a tax pro who will actually be there to answer your call in September when you have a question about a decision that might impact your taxes for the year? That’s a pretty easy choice! "I am of the strong belief that tax advisors are far more valuable from April 16 to December 31 than we ever will be from January 1 to April 15,” Chad says. “That’s because a tax return is historical. There are very few things that taxpayers can do after the ball drops on New Year’s to change the prior year." 7. How Will My Side Hustle Affect My Taxes? Whether you followed Dave’s advice and started delivering pizzas to pay off debt faster or turned your hobby into a thriving small business, it’s very possible that your side hustle might complicate the way you do your taxes. If you’re one of the millions of freelancers, independent contractors and small business owners around the country, you probably have to deal with different kinds of tax forms than a typical employee. Not only that, but you might have to pay quarterly taxes and the self-employment tax on any income you make from your side hustle. Your tax pro can sit down and work with you and guide you through what you can expect during tax season so you’re not blindsided when you file your taxes. 8. What Other Services Do You Offer? Believe it or not, your tax professional might be able to help you do a lot more than just file your tax returns. For example, if your tax advisor is a certified public accountant (CPA), they can provide you with a wide range of services. From bookkeepers to payroll administrators, CPAs can wear a bunch of different hats on your behalf—especially if you’re a small business owner. These guys and gals are basically the swiss army knives of the tax-planning world! There are other certifications and letters you might see behind the name of your tax advisor (like “CFP” for certified financial planner or “EA” for enrolled agent), so take the time to ask your pro what his or her credentials are, and what services they can offer you both during and after tax season. Find a Tax Pro. Don’t have a tax pro in your corner yet? Or maybe you’re looking to work with someone new this tax season? We’ve got you covered! Our tax ELPs are ready to answer any questions you have about your taxes. They take the time to get to know you and your financial situation so they can help you file your taxes with confidence. Find a tax pro today! Interested in becoming an Endorsed Local Provider? Let us know. About the author Ramsey Solutions Ramsey Solutions has been committed to helping people regain control of their money, build wealth, grow their leadership skills, and enhance their lives through personal development since 1992. Millions of people have used our financial advice through 22 books (including 12 national bestsellers) published by Ramsey Press, as well as two syndicated radio shows and 10 podcasts, which have over 17 million weekly listeners. More Articles From Ramsey Solutions
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Result 21
TitleHow to Become a Tax Preparer | H&R Block
Urlhttps://www.hrblock.com/tax-center/around-block/become-tax-preparer/
DescriptionLearn how to become a tax preparer with the experts at H&R Block. You can learn the essentials by completing the H&R Block Income Tax Course (ITC)
DateJul 13, 2017
Organic Position20
H1How to Become a Tax Preparer
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H3Related Resources
No matter how you file, Block has your back
You are leaving H&R Block® and going to another website
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BodyHow to Become a Tax Preparer July 13, 2017 : Allie Freeland Ever wondered how to become a tax preparer? Believe it or not, it’s probably more within your reach than you think. The first step is to complete a tax preparation course. In fact, at H&R Block we offer a program called the Income Tax Course, a hands-on program that teaches people of every walk of life the ropes of accounting and tax preparation. Without further ado, here are 10 questions and answers about the course. Within the text you can learn how to become a tax preparer… Read on now! 1 – What is the H&R Block ITC? The H&R Block Income Tax Course will provide learners with knowledge and ability to complete basic tax returns and potentially succeed as a tax professional. Think of it as an educational boot camp for taxes… Students will learn about a range of tax and financial topics, including how to prepare personal and business tax returns. The course focuses on the following areas: Tax theory Current tax laws and filing practices Step-by-step skills to prepare tax returns Client communication skills and techniques 2 – What is the time commitment for ITC?   The H&R Block Income Tax Course (ITC) consists of 60 hours of comprehensive tax topics. 3 – Do people need to have basic knowledge of taxes and accounting to take the course?    No! People who take the ITC come from a range of backgrounds and levels of knowledge. 4 – What’s the format of ITC?  The course has a blended learning delivery method; meaning it combines face-to-face classroom sessions from experienced Tax Professional instructors with self-study online learning and activities. This innovative approach provides students with the best features of both classroom and self-study learning environments. Interactive, professional discussions One-on-one instructor assistance Hands-on experience with the latest tax software Real-world tax preparation exercises 5 – Can anyone take the course?   H&R Block requires students to be 18 years of age to attend the Income Tax Course. A GED or diploma, however, is not required. 6 – What will ITC students expect upon course completion?  Students will receive the following: H&R Block Certification Certificate of Completion Qualifying Education Hours 5 hours of recognized credit with the University of Phoenix® Tax preparers are equipped to become a tax pro at H&R Block. (But remember, enrollment in, or completion of, the H&R Block Income Tax Course is neither an offer nor a guarantee of employment.) 7 – What is the process of becoming a Tax Pro at H&R Block?  Interested individuals must submit an employment application and meet all applicable hiring requirements to include successful completion of the Income Tax Course with a passing score. Candidates will interview, and those hired will be required to complete additional paid training. (View H&R Block job opportunities here.) 8 – What does ITC cost?   The ITC is financially within reach for most people. In fact, there is no cost for tuition or course fees. But, students are required to purchase course materials in all states except for New York and Tennessee, where purchase of some materials are optional. Course materials are offered for a fee of $149 in most states, and $99 in Minnesota. 9 – What if I don’t want to become a tax pro? Should I still take this course? The experience can be valuable for your career and can help you save money on your own taxes too. For example, one of my friends who took the course learned about amended returns and all the commonly overlooked personal tax deductions she should have been claiming. As a result, she amended a previous year’s return and got a check from the IRS for over $1,000! 10 – Where can you sign up for ITC?  Visit the H&R Block Income Tax Course webpage now! (If you are not quite ready to take the plunge, view an ITC course sample here. * A greater amount of course hours is required in California and Oregon. To meet California Tax Education Council (CTEC) requirements the course consists of 85 hours of instruction. The Oregon course consists of 84 hours of instruction to meet Oregon Board of Tax Practitioners (OBTP) requirements. Related Topics. IRS Income Around Block Allie Freeland. Contributing Editor, H&R Block Allie is the Contributing Editor of the H&R Block blog, Block Talk. She has been a practicing grammar geek since 2007.   Related Resources. Uncovering Hidden Tax Deductions Looking to find tax deductions? Review uncommon tax deductions to find out how a Tax Pro at H&R Block can help you identify ones that apply to you. Meet Budget Challenge Scholarship Winner: Alexa Brutus Meet H&R Block Budget Challenge scholarship winner Alexa Brutus. At 14, this Florida high school student is one of the youngest scholarship winners so far! Meet H&R Block Budget Challenge Classroom Grant Winner: Ms. Amanda Volz St. Clair High School teacher Amanda Volz knows what it takes to lead a class of Budget Challenge masters. Learn more about her at H&R Block. Meet H&R Block Budget Challenge Scholarship Winner: Joseph Cain Meet H&R Block Budget Challenge scholarship winner Joseph Cain. His determination and dedication helped him win a $20,000 scholarship! No matter how you file, Block has your back. File with a tax pro File online You are leaving H&R Block® and going to another website. This is a friendly notice to tell you that you are now leaving the H&R Block website and will go to a website that is not controlled by or affiliated with H&R Block. This link is to make the transition more convenient for you. You should know that we do not endorse or guarantee any products or services you may view on other sites. For your protection, take a moment to carefully review their policies and procedures, as they may not be the same as those of H&R Block. Cancel Continue
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Result 22
TitleTax Preparation Denver, Tax Prep Denver - Denver Tax Advisor
Urlhttps://denvertaxadvisor.com/
DescriptionDenver Tax Advisor is the premier Tax Preparation and Advisory company in Denver. Contact our experts today to develop the best tax strategy possible
Date
Organic Position21
H1Home
H2Now Accepting New Clients.
Tax Preparation Denver
Why Trust Denver Tax Advisor?
TAX PREPARATION & ACCOUNTING SERVICES
Have Any Questions?
H3
H2WithAnchorsNow Accepting New Clients.
Tax Preparation Denver
Why Trust Denver Tax Advisor?
TAX PREPARATION & ACCOUNTING SERVICES
Have Any Questions?
BodyHome Denver's Expert Tax Advisor Now Accepting New Clients. . Call Today! Denver Tax AdvisorTax Preparation Denver. When looking for a tax accountant to handle the complexities of your tax preparation, you want to find someone who truly understands your unique situation. Not to worry. Denver Tax Advisor is here to provide thorough and comprehensive tax preparation Denver residents know they can count on, no matter what the details of their particular situation. We are known for high-quality service, professionalism, capability, and a thorough knowledge of both the Federal and various State tax systems. Whether you’re filing as a business owner or an individual, we can assist you with the tax preparation process. Why Trust Denver Tax Advisor? We’ve got the experience and the expertise you want at your back when it comes to tax preparation. When it comes to the complex matter of filing your yearly returns, it can be hard to know in whom to place your faith and trust. Denver Tax Advisor takes pride in offering tax preparation and planning Denver citizens trust. You can count us to have the very latest knowledge when it comes to understanding the most efficient way to structure your business or personal situation to take advantage of deductions, credits or to minimize tax. Tax ServicesTAX PREPARATION & ACCOUNTING SERVICES. Tax Preparation our Solution First Row, Our Solutions Tax Preparation is a major specialty of Denver Tax Advisors. We build tax plans around maximizing the money in your pocket. No matter your question or concern, we are happy to explore solutions with you. Having an expert from our team of advisors puts the experience and resources at your fingertips or a phone call away. Explore our tax preparation services here and let us know if you have any questions. Learn more Personal Taxes our Solution First Row, Our Solutions Personal taxes can range from simple to highly complicated. Whatever your situation our team is looking to implement appropriate strategies to reduce the amount you owe, putting more in your pocket at the end of the day. Learn more Business Taxes our Solution First Row, Our Solutions We will help you establish the best entity type and structure for your business. We provide tax preparation for sole proprietors, limited liability companies LLC, S-Corps and C-Corps. As part of the tax preparation process we will review your situation and make any recommendations to optimize your structure or transactions to reduce taxes. We are well versed in the new tax law including QBI 20% deduction and section 199A and will stay on top of changes and IRS guidelines as this law evolves. Learn more Starting a Business Our Solutions, our Solutions Second Row Starting and running a small business can feel overwhelming in many regards. Let Denver Tax Advisor take the guess work out of planning and preparing your small business taxes in Denver. Our team of experts has the experience and knowledge to plan and manage your taxes, letting you focus on the other important aspects of managing and developing your business. Learn more Tax Liability Reduction Our Solutions, our Solutions Second Row Your tax liability refers to how much you owe the federal government in taxes, a number we’d all like to see reduced. At Denver Tax Advisor, our job is to review your financial situation and help you figure out how to secure the lowest possible tax liability. Our team is familiar with financial strategies that may help you reduce the amount you owe, meaning that you get to keep more of your hard earned money for yourself. Learn more Rental Property Taxes Our Solutions, our Solutions Second Row We have a deep knowledge base and experience in rental properties. Including investors that may have a portfolio of properties in various entities such as an LLC and also with short-term rentals such as those rented out on airbnb. In addition to preparing taxes we can give you advice on how to structure transactions, whether a 1031 exchange would make sense and understanding depreciation and capital gains. Learn more Trusts and Estate Taxes our Solution Third row, Our Solutions When a loved one passes away you don’t want to be burdened with figuring out final tax return requirements and how to file an estate tax return yet the IRS rules require it in a timely fashion. We will make this process and smooth as possible and prepare and file the Estate return while advising you on the moves to make to minimize tax. We also have a deep level of experience with Trust tax returns from simple to complex trusts and strategies around distributions and earnings to minimize the tax burden at the trust and pass-through level. Learn more Incentive/Employee Stock Options our Solution Third row, Our Solutions We have knowledge and experience about incentive stock options (ISO) non-qualified stock options (NSO), Restricted Stock Units (RSU), Employee Stock purchase plans (ESPP). We can help develop a strategy for when to exercise options, when to make 83(b) elections, how to minimize tax and pay long term gains, instead of ordinary income rates and when Alternative minimum tax comes into play (AMT). Learn more IRS Problem Solving our Solution Third row, Our Solutions Have you received a letter from the IRS? Has it been several years since you last filed a tax return? Is the IRS threatening to garnish your wages or put a lien on your assets? We are Enrolled Agents and can represent you in dealing and negotiating with the IRS. We can negotiate favorable terms for a payment plan or negotiate to settle for a lower amount in the right circumstances. The IRS can be a nightmare to deal with, let us work with you to cut through the bureaucracy and to stand up for your rights as a taxpayer under the law. Learn more Contact Us 720-381-8331. Write a MessageHave Any Questions?Thank you very much for your interest in our company and our services and if you have any questions, please write us a message now!
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Result 23
TitleFrequently Asked Questions FAQs - Become a CPA
Urlhttps://us.aicpa.org/becomeacpa/gettingstarted/frequentlyaskedquestions
Description
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H1Frequently Asked Questions FAQs - Become a CPA
H2Frequently Asked Questions
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About AICPA
Support
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BodyFrequently Asked Questions FAQs - Become a CPA The Basics You may be wondering how far you can go with an accounting degree. Or the difference between an accountant and a CPA. Get honest, realistic answers to the most commonly asked questions. What is accounting and why is it important? Are CPAs and accountants the same thing? What is a CPA and what do they do? What kinds of career opportunities are available to CPAs? What kinds of opportunities are there for women in the CPA profession? What kinds of opportunities are there for minorities in the CPA profession? Why should I get my CPA license? What do I have to do to become a CPA? What kind of education will I need? What types of skills will I need? What is accounting and why is it important? Accounting is often called the "language of business" because it deals with interpreting and communicating information about a company's operations and finances. Accounting is extremely important to any company because the financial information, as interpreted by CPAs, allows executives to make informed business decisions-decisions that help those companies become more successful. Economic events are measured and described by accounting. Everyone works with and uses accounting ideas, whether they're managing a business, investing money, or just deciding how to spend their paycheck. In business, accounting links the past with the future. It provides decision-makers information about recent financial activity, as well as information and recommendations useful for forecasting future events. Back To Top Are CPAs and accountants the same thing? Yes and no. All CPAs are accountants, but not all accountants are Certified Public Accountants (CPAs). The principal differences between accountants and CPAs are education, experience, and opportunity. Becoming a CPA is a challenging goal, but one very much within your reach. In order to become a CPA, there are education and experience requirements you'll need to fulfill, and a Uniform CPA Exam that you must pass. Receiving your CPA certification distinguishes you from other business professionals – the benefits are increased trust, opportunity, and financial reward. Back To Top What is a CPA and what do they do? CPAs are many things. They are chief financial officers for Fortune 500 companies and advisors to small neighborhood businesses. They work for public accounting firms, both small and large. They are well-respected strategic business advisors and decision-makers. They act as consultants on many issues, including taxes and accounting. A CPA, or Certified Public Accountant, is a trusted financial advisor who helps individuals, businesses, and other organizations plan and reach their financial goals. Whatever those goals-saving for a new home, opening a new office, or planning a multi-billion dollar merger-CPAs can help. Getting your CPA certification opens the kinds of doors that can fast-track you into influential jobs in every industry. Whom do you think the FBI recruits to investigate criminal fraud? What profession is often a stepping-stone to holding positions like Chief Financial Officer (CFO) and Chief Executive Officer (CEO)? Who helps rock stars manage their money, and avoid going broke? View the career opportunities section. Back To Top What kinds of career opportunities are available to CPAs? From the smallest start-up to the largest government agency, every business or organization requires the skills of a CPA. The CPA credential is highly regarded. To a potential employer it means high ethical standards as well as measurable experience, education, and skills. CPAs work mainly in public accounting, business and industry (corporate accounting), government, not-for-profit, and education. To learn more about the opportunities available in each of these areas by click here. Back To Top What kinds of opportunities are there for women in the CPA profession? More and more women are becoming CPAs because accounting is a field with increasingly interesting work, flexibility, a high level of respect and attractive financial rewards. As of the year 2000, 57 percent of new accounting graduates were women (source: AICPA). For more information on women in the profession, visit the Work/Life & Women's Initiatives section of this Web site. Back To Top What kinds of opportunities are there for minorities in the CPA profession? Minority students make up close to 19 percent of new accounting graduates. For more information, visit the Minority Initiatives section of this Web site. Back To Top Why should I get my CPA license? The CPA credential is a symbol of trust and professionalism in the world of business. It's a highly challenging professional track, but the reward is that CPAs are considered the most trusted advisors in business. In addition to completing business and accounting courses in college and passing a comprehensive national exam, CPAs continue to maintain and update their skills as part of their commitment to a truly dynamic profession. Learn more about CPA certification requirements. Back To Top What do I have to do to become a CPA? The timeline to licensing includes education, examination and experience. Before you do anything else, complete a program of study in accounting at a college/university. The AICPA recommends at least 150 semester hours of college coursework. The next step is to sit for the Uniform CPA Examination. While the Exam is developed and graded by the AICPA, eligibility to sit for the CPA Exam is determined by the state board of accountancy in each of the 55 U.S. jurisdictions (includes the 50 states, District of Columbia, Puerto Rico, U.S. Virgin Islands, the Commonwealth of Northern Mariana Islands, and Guam). Please visit the certification section of this Web site for more information about the Examination process. Upon passing the CPA Exam, you will receive your CPA certificate. This is not a license to practice. There are other educational and professional work experience requirements for licensure that vary from state to state. Our certification section offers more details on these requirements. Once you have obtained your CPA license to practice, you will need to take continuing professional education courses annually to retain your license. Back To Top What kind of education will I need? To keep pace with new developments in business and technology, a majority of states require 150 credit hours of education at an accredited college or university as a prerequisite to CPA certification. Here's a question about education that comes up again and again: "Do I need my Master's degree?" The short answer to that question is "no." However, many of the 150 credit hour programs lead to a graduate degree, such as an MBA (Master of Business Administration), MACC (Master of Accountancy) or MST (Master of Science in Taxation), which CPAs have found to be helpful in creating the kinds of career opportunities and salaries they seek. Back To Top What types of skills will I need? To begin a successful career in accounting, you will need to develop a wide array of knowledge, skills and competencies, ranging from a strong understanding of accounting and business concepts to effective leadership and communication skills. You will also need to have a broad business perspective, which will enable you to "see the big picture" of the internal and external factors that impact how a business operates. Technology will also be a major enabler throughout your career, so it's critical to stay abreast of and utilize new computer applications and systems as necessary. Playing an active role in your education, such as taking a hard look at the courses you enroll in and what extracurricular activities you get involved in, helps to position you for a long and successful career. It's important to recognize that the learning doesn't end in school; it's really just the beginning of your lifetime commitment to continual education and development. All of the skills and competencies listed below are considered important to success. A more comprehensive description of the competencies can be found within the Accounting Education Center. Problem-solving, analytical and research skills - You should be able to analyze, compare and interpret facts and figures. The ability to identify and solve unstructured problems in an unfamiliar setting and provide insightful consulting advice is a valued quality. Creative thinking will help you face issues on a daily basis and generate innovative solutions. Also, it is essential to be able to effectively and efficiently research, organize and report on technical and/or industry specific issues utilizing print, electronic or human sources. Personal skills - Accounting is a service activity, and you will have to work well in teams as well as in one-on-one situations. Critical to any organization's success is the ability to lead, motivate and empower teams to attain clear, concrete, timely and measurable results. Strong communication skills including the ability to be a good listener- You will be called upon to persuasively present, discuss and defend your views both formally and informally, in writing and verbally. Clients and co-workers will present you with issues and questions you will need to interpret and respond to quickly. The ability to show empathy and sensitivity to their situations will position you in a favorable light and earn their respect and trust. Understand emerging technologies- You need to keep current on emerging technologies like e-commerce, image processing and workflow technology, and understand how these impact business operations and the use of information for decision making. You should know how to use the Internet, e-mail and discussion boards, as well as be familiar with the latest spreadsheet, database, word processing, accounting, business and presentation software packages. High Ethical Standards - Given the fiduciary nature of the work you perform, people will rely on the information you provide. Honesty and integrity are qualities which are highly valued. Marketing/Client Focus - Individuals who are marketing and client-focused are better able to anticipate and meet the changing needs of clients, employers, customers and markets. Project Management- Conflicting demands, unexpected requirements, coinciding deadlines and family obligations are but a few of the sources of stress and pressures you will face. To manage these pressures, you must be able to judge the situations, assign priorities and organize your tasks and obligations to meet the respective deadlines. Broad Business Perspective- You need a keen business sense and an awareness of current events, both locally as well as globally. As a key business partner to clients and/or company management, you add value to the organization by making appropriate recommendations based on your understanding of company operations, policies, practices and competitive factors. Back To Top We are the American Institute of CPAs, the world’s largest member association representing the accounting profession. Our history of serving the public interest stretches back to 1887. Today, you'll find our 431,000+ members in 130 countries and territories, representing many areas of practice, including business and industry, public practice, government, education and consulting. About AICPA. Mission and History Leadership Governance Annual Reports Affiliates AICPA Media Center AICPA Research Jobs at AICPA Support . Help FAQ Order questions Forgot Password Store Store policies Contact us Association of International Certified Professional Accountants. All rights reserved. Terms & Conditions Privacy Site Map
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Result 24
TitleHow to Find the Right Small-Business Tax Advisor for Your Business - NerdWallet
Urlhttps://www.nerdwallet.com/article/small-business/how-to-find-a-small-business-tax-advisor
DescriptionThere are five key questions to ask before deciding on a small-business tax advisor
Date
Organic Position23
H1How to Find the Right Small-Business Tax Advisor for Your Business
H2Types of small-business tax advisors
How to find a small-business tax advisor
Questions to consider
H3You’re our first priority.Every time
1. What role will the tax advisor play on my financial team?
2. How much experience does the tax advisor have delivering the kind of results I'm looking for?
3. What experience does the tax advisor have with my issues?
4. What does the advisor do for their clients year-round?
5. What level of responsibility will they take for my tax return?
H2WithAnchorsTypes of small-business tax advisors
How to find a small-business tax advisor
Questions to consider
BodyHow to Find the Right Small-Business Tax Advisor for Your BusinessThere are five key questions to ask before deciding on a small-business tax advisor.Eric Levenhagen Jan 31, 2020Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.What’s insideTypes of small-business tax advisorsHow to find a small-business tax advisorQuestions to considerTypes of small-business tax advisorsHow to find a small-business tax advisorQuestions to considerA small-business tax advisor is a certified tax professional hired to help year-round with preparing and filing business taxes, offering tax and other financial advice and representing the business in the event of an audit. Other responsibilities include record keeping and planning for tax purposes and maximizing business tax returns. This person should not only have the qualifications and experience to assist with taxes, but also have specific knowledge of the intricacies of business taxes.Here's what you need to know about small-business tax advisors to make your best decision.Types of small-business tax advisors. Technically, anyone can be a small-business tax consultant — all they need is an IRS preparer tax identification number (PTIN). However, in order to ensure that your business and taxes are in the most capable hands, there are a few types of IRS-certified tax advisors you should know about. These kinds of tax advisors meet the additional skill, education and expertise requirements set out by the IRS. Even more importantly, they’re all authorized to represent you before the IRS:Enrolled agents (EA): An enrolled agent is a tax professional licensed by the IRS. These professionals have passed a three-part special exam to demonstrate their tax proficiency or have worked at the IRS for a minimum of five years.Certified public accountants (CPAs): CPAs are accounting professionals who have passed the CPA Exam and comply with the CPA requirements. CPAs offer a range of services, including tax preparation and filing.Attorneys: Attorneys are law professionals who have passed the bar exam and are licensed to practice by their respective state. Although all attorneys technically fall under this IRS requirement, business owners will want to work with an attorney who specializes in business taxes.If you’re looking for a business tax advisor, you’ll want to find a professional that falls into one of these three categories. Keep an eye out for someone who has specific experience with business taxes, not just personal taxes. A tax advisor who's familiar with small-businesses, startups or your particular industry, will be even more beneficial.» MORE: NerdWallet's best small-business appsHow to find a small-business tax advisor. A good place to start is with your business accountant or bookkeeper. If you already work with a CPA for your other accounting needs, they might have the experience to also serve as your business tax advisor. In addition, referrals are a great way to find a small-business tax advisor. Consult other business professionals you use and trust — or talk to other small-business owners for references.If you don’t use a referral, you can try consulting professional tax organizations to find certified business tax advisors near you. The Association of International Certified Public Accountants (AICPA) website has a CPA directory and the National Association of Enrolled Agents can help you find an EA. Local bar associations can assist you in finding tax attorneys in your area also.Questions to consider. These questions can not only help you assesses your business tax needs, but also the business tax advisor themselves to determine if they’re a good fit for your business:1. What role will the tax advisor play on my financial team?Will your advisor interact with the other members of your team (attorney, financial planner etc.) to make sure everything in your financial plan is working smoothly? Will they have access to all of your business finance tools like your accounting or bookkeeping software?2. How much experience does the tax advisor have delivering the kind of results I'm looking for?Ask the tax advisor to share some success stories from other clients they have worked with. Most tax advisors will be able to share stories, testimonials or even references with you. Make sure you check them out.Don’t be afraid to ask about specific strategies the advisor has used. You want the advisor to respond with answers like “we educated the client on which costs were deductible” or “we restructured this client’s business to take advantage of lower tax rates,” etc.What you don’t want to hear is evidence that the advisor has used aggressive strategies that would cause red flags with the IRS, or strategies that are just plain illegal. Listen for words like planned, restructured, educated and documented in the advisor’s answers — these are legitimate.3. What experience does the tax advisor have with my issues?Does the advisor have knowledge about your industry? Do they work with anyone inside your industry right now? Do they know about any trends or news that relates to your business? What can be done to either profit from or protect you against those trends?You want to be working with an advisor who understands your business and specific issues concerning business taxes, like the small-business tax rate. If you have to educate your tax professional about how your business routinely operates, they probably aren’t the right person for you. A tax professional should refer you to someone else if your business is not their specialty.4. What does the advisor do for their clients year-round?Business (and life) happens year-round, not just at tax time. You need to be able to have access to your tax advisor all year long so if a situation comes up and you need guidance, you can get advice before the transaction or event happens.If your tax consultant only does taxes between January and April and takes the rest of the year off, that should be a red flag to you. You want somebody who lives and breathes the tax code and can apply it to your situation. You also want an advisor that will stay in contact with you during the year and alert you to any tax saving opportunities that may arise.5. What level of responsibility will they take for my tax return?Finally, you want an advisor that will stand behind their work. If problems come up with your tax return, your advisor should be able to address them. If you face an IRS audit, your advisor should be able to help you through the audit process.Asking questions like these will give you, as the business owner, the opportunity to assess your tax advisor needs, as well as the individual tax advisor themselves. Don’t be afraid to meet with multiple tax professionals to weigh their skills, experience and even personality — at the end of the day, it’s of the utmost importance that this person is right for your business and that you feel comfortable reaching out to them for help.A version of this article was first published on Fundera, a subsidiary of NerdWalletOn a similar note...Dive even deeper in Small BusinessExplore Small Business
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Result 25
TitleHow to Become a Tax Preparer: License & Certifications | Intuit
Urlhttps://proconnect.intuit.com/articles/what-certifications-does-a-tax-return-preparer-need/
DescriptionLearn the different certifications a tax preparer needs for preparing and defending a client’s tax documents. For CPAs, EAs, registered preparers and more
Date
Organic Position24
H1Professional Tax Preparer License and Certifications
H2
H3Enrolled agents
Certified Public Accountants
Tax attorneys
Unenrolled preparers
After You’re Certified as a Tax Preparer
H2WithAnchors
BodyProfessional Tax Preparer License and CertificationsThe Internal Revenue Service issues preparer tax identification numbers (PTINs) to anyone authorized to legally prepare — and defend — tax documents for individuals and companies. But there are credentials beyond the PTIN providing tax return preparers additional representation rights. For individuals interested in becoming a tax preparer, understanding the tax preparation requirements will help them achieve the career they're interested in pursuing. The certifications include: Enrolled agents. An enrolled agent is a registered tax return preparer required to pass a suitability check, take an extensive test covering individual and business taxes as well as representation issues, and undergo 72 hours of additional education every three years. They have the most extensive licensing provided by the IRS, valid across the entire country.  Certified Public Accountants. CPAs are licensed by states or U.S. territories, and must pass the Uniform CPA Examination. Each state or territory establishes additional tax preparation requirements like education and review of certification requirements as well. Many CPAs will specialize in tax planning or preparation of returns. Tax attorneys. Attorneys must be licensed by a state court or state bar after having earned a law degree and passed the bar exam. Not only are attorneys a registered tax return preparer, they also can prepare a legal defense for a client involved in a tax-related court case, even for taxes they did not prepare. Unenrolled preparers. The IRS had a program providing Registered Tax Return Preparer certification to certain preparers. However, this program is no longer enforced due to a February 2014 decision by the U.S. Court of Appeals for the District of Columbia Circuit Court finding that the IRS has "insufficient statutory support for the IRS' regulation of federal tax return preparers." While the Registered Tax Return Preparer program is no longer available, you can become a Tax Associate at Intuit, the makers of TurboTax®. In this role, you’ll assist credentialed agents in assisting the preparation of 1040s for TurboTax Live customers through a virtual on-demand platform. To help you become a certified tax preparer, you’ll have access to developmental programs that will help you earn credentials as an enrolled agent. To apply and learn more, visit the website. After You’re Certified as a Tax Preparer. Once certified, tax return preparers often invest in cloud-based software programs like Intuit ProConnect Tax or Intuit Lacerte Tax that help provide their clients with better accuracy and quicker service. Both programs are excellent for tax preparers of any certification level.  Contact us to learn more.Tax software Intuit Lacerte TaxIntuit ProConnect TaxIntuit ProSeries TaxReferral programWorkflow add-ons Intuit Practice ManagementHosting for Lacerte & ProSerieseSignatureProtection PlusPay-by-RefundIntuit LinkAccounting solutions QuickBooks Online AccountantQuickBooks Accountant DesktopEasyACCTTraining & support Training CenterCommunity forumsResources for starting a tax practiceTax Pro CenterTax Practice of the FutureEvents & virtual conferencesCall Sales: 844-877-9422SitemapAbout IntuitJoin Our TeamPress RoomAffiliates and PartnersSoftware and Licenses© 2022 Intuit Inc. All rights reserved.Intuit, QuickBooks, QB, TurboTax, ProConnect, and Mint are registered trademarks of Intuit Inc. Terms and conditions, features, support, pricing, and service options subject to change without notice.By accessing and using this page you agree to the Terms and Conditions.About cookiesManage cookiesTerms and Conditions LegalPrivacySecurity
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Result 26
TitleTax adviser | Explore careers | National Careers Service
Urlhttps://nationalcareers.service.gov.uk/job-profiles/tax-adviser
DescriptionTax advisers help clients plan their finances to make sure they're paying the right amount of tax
Date
Organic Position25
H1Tax adviser
H2There is a problem
Alternative titles for this job include
Average salary (a year)
Typical hours (a week)
You could work
How to become
How to become a tax adviser
What it takes
What it takes
What you’ll do
What you'll do
Career path and progression
Career path and progression
Current opportunities
Current opportunities
Speak to an adviser
H3University
Apprenticeship
Work
Direct Application
Other Routes
More Information
Skills and knowledge
Day-to-day tasks
Working environment
Apprenticeships In England
Courses In England
Jobs In the United Kingdom
Not what you're looking for?
Related careers
Skills assessment
H2WithAnchorsThere is a problem
Alternative titles for this job include
Average salary (a year)
Typical hours (a week)
You could work
How to become
How to become a tax adviser
What it takes
What it takes
What you’ll do
What you'll do
Career path and progression
Career path and progression
Current opportunities
Current opportunities
Speak to an adviser
BodyTax adviser Alternative titles for this job include . Tax advisers help clients plan their finances to make sure they're paying the right amount of tax. Average salary (a year) . £22,000 Starter to £60,000 Experienced Typical hours (a week). 38 to 40 a week You could work . between 8am and 6pm How to become . Explore the different ways to get into this role. How to become a tax adviser. You can get into this job through: a university course an apprenticeship working towards this role applying directly specialist courses run by professional bodies University. You could take a degree and then further professional training through a graduate scheme, to qualify. Most graduate employers will be looking for a minimum of an upper second class degree. Some may also require specific UCAS points, gained through GCSE and A level or equivalent qualifications. This is to show how consistent your academic achievement has been. Your degree can be in any subject. Though not essential, the following subjects can be useful: accountancy accounting and finance business and management law maths During your studies look out for: insight days vacation schemes internships year placement opportunities Your university careers service can help you to find work experience opportunities with business and finance companies, which will give you an advantage when you apply to graduate schemes. Entry requirements. You'll usually need: 2 to 3 A levels, or equivalent, for a degree 4 or 5 GCSEs at grades 9 to 4 (A* to C), or equivalent, including English and maths More Information. student finance for fees and living costs equivalent entry requirements university courses and entry requirements Apprenticeship. The following higher apprenticeships are relevant to this role: Professional accountancy or taxation technician Accountancy or taxation professional Entry requirements. You'll usually need: 4 or 5 GCSEs at grades 9 to 4 (A* to C) and A levels, or equivalent, for a higher or degree apprenticeship More Information. equivalent entry requirements guide to apprenticeships Work. You could start as an assistant in an accounting department and apply for a position as a trainee adviser with a company. Some professional services firms recruit school and college leavers with A Levels or equivalent qualifications into trainee tax adviser roles. You would receive full training from your employer, including support to gain professional qualifications. Direct Application. You can apply directly to employers if you've got some of the relevant skills and knowledge needed for this job. For example, you could transfer from another profession like accountancy or law. You'll need to apply for membership of the Association of Taxation Technicians, or work towards the Chartered Tax Adviser qualification offered by the Chartered Institute of Taxation. Other Routes. You can complete a professional qualification through the Association of Taxation Technicians or the Chartered Institute of Taxation. More Information. Registration. you'll need to register as an 'approved person' by the Financial Conduct Authority Professional and industry bodies. You can join the Chartered Institute of Taxation or Association of Taxation Technicians for professional development and to make industry contacts. Further information. You can find out more about becoming a tax adviser from the Chartered Institute of Taxation and the Association of Taxation Technicians. What it takes . Find out what skills you’ll use in this role. What it takes. Skills and knowledge. You'll need: to be thorough and pay attention to detail maths knowledge customer service skills ambition and a desire to succeed the ability to accept criticism and work well under pressure excellent verbal communication skills the ability to read English analytical thinking skills to be able to use a computer and the main software packages competently What you’ll do . Discover the day to day tasks you’ll do in this role. What you'll do. Day-to-day tasks. You could: meet clients to discuss their financial situation gather information to calculate the amount of tax due check and complete tax returns audit clients' tax records explain tax law to clients and find ways to reduce their liability produce reports or presentations for clients negotiate with HMRC on your client's behalf keep up to date with regulations Working environment. You could work in an office or at a client's business. Career path and progression . Look at progression in this role and similar opportunities. Career path and progression. With experience, you could open your own tax consultancy. Current opportunities . Find apprenticeships, courses and jobs available near you. Current opportunities. Apprenticeships In England . Finance Apprentice . Wage: £17,546.00 Annually Location: Not known Finance Apprentice (Level 7) . Wage: £27,938.00 Annually Location: Not known Find apprenticeships near you Courses In England . ACCA L6 Advanced Taxation . Provider: CHICHESTER COLLEGE GROUP Start date: 16 March 2022 Location: Chichester Personal Finance and Taxation . Provider: WILTSHIRE COLLEGE AND UNIVERSITY CENTRE Start date: 01 March 2022 Location: Chippenham Find courses near you Jobs In the United Kingdom . The Find a job service can help you with your search for jobs and send alerts when new jobs become available. Not what you're looking for? Search further careers. Related careers. Tax inspector Business adviser Private practice accountant Auditor Accounting technician Skills assessment. Take an assessment to learn more about your skills and the careers that might suit you. Speak to an adviser. Call 0800 100 900 or use webchat 8am - 8pm Monday - Friday 10am - 5pm Saturday Is this page useful?Yes No Thank you for your feedback. Thank you for your feedback. Click here if you'd like to let us know how we can improve the service.
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Result 27
TitleWhen You Should Hire a CPA or Tax Pro | Reviews by Wirecutter
Urlhttps://www.nytimes.com/wirecutter/reviews/should-you-hire-a-cpa/
DescriptionWhen should you hire a CPA or tax preparer, and when can you do your taxes yourself? Here's a look at the costs, advantages, and disadvantages of hiring a pro
Date
Organic Position26
H1When You Should Hire a CPA or Tax Pro
H2The research
When you should prepare your own tax return
When you should hire a tax professional
How to hire a tax professional
Sources
About your guide
H3Your tax situation is simple
You have the time
You’re self-employed
You’ve had a big life event
You own rental property
You have foreign bank accounts, investments, or income
You made mistakes on a prior-year return or are being audited
You want to save money (potentially)
Ask for referrals
Check credentials
Interview candidates
How to Find the Best CPA or Tax Accountant Near You
The Best Online Tax Filing Software
Tools to Stay on Top of Your Taxes All Year Long
How the New Tax Law May Affect Your 2018 Taxes
H2WithAnchorsThe research
When you should prepare your own tax return
When you should hire a tax professional
How to hire a tax professional
Sources
About your guide
BodyWhen You Should Hire a CPA or Tax ProBy Janet Berry-JohnsonUpdated February 12, 2021SaveIllustration: Sarah MacReadingIt’s that time of year again, when tax documents land in our mailboxes and ads for tax software litter our email inboxes and social media feeds. If you’re wondering whether you should do your own taxes or hire a tax professional, the answer (as with most financial decisions) is: It depends on your situation. Generally, the more complicated your return, the better off you’ll be going with a pro. A tax pro is likely to be your best bet in several situations, including the following:You’re self-employed.You’ve experienced a major life event, such as getting married or divorced, buying a home, receiving an inheritance, or moving to a different state.You own rental property.You have foreign accounts or investments or are an active stock trader.The complexity of these cases means that using a professional tax preparer can save time, reduce stress, avoid DIY errors, and potentially uncover tax savings that even the best tax software might not surface.Wirecutter editor Tim Barribeau says: “I’ve done [my taxes] myself once or twice, but every time it’s been brutally stressful and a major source of anxiety, plus the absolute belief that I’ve done something wrong along the way.” He adds, “Combine that with complicated tax situations, changing employment for one of us seeming every year, and freelance-y stuff on top … I’m much happier paying someone that I know knows what they’re doing.”He’s not alone. According to the IRS, the majority of e-filed tax returns in 2020 were prepared by professional tax preparers—over 80.6 million, versus 72.2 million returns that were self-prepared.However, if you have a relatively simple return—just a few common forms like a W-2 or 1099-INT—using online tax software can be easy, and you could file for free or for less than you’d pay a pro. The cost of hiring a professional averages anywhere from $188 to $481, depending on the complexity of the returns and where you live, according to the National Society of Accountants’s 2018–2019 Income and Fees Survey.You may be wondering why you have to spend so much money to file your taxes. It’s painful to acknowledge, but tax filing could be a lot simpler and cheaper. The current system, which passes the time and cost burden of filing taxes to the American people, persists partly because, as an opinion piece in The New York Times (Wirecutter's parent company) notes, tax-preparation companies like H&R Block and Intuit lobby Congress to maintain the status quo (though there are many other reasons).But with no major change on the horizon, we want to help you make the best of the current system.We’ll discuss situations where your return might be simple enough to tackle on your own, some scenarios where bringing in a professional might be worthwhile, and how to find a reputable pro when you need one.Just keep in mind that when you sign your tax return, you become responsible for everything on it—even if someone else prepared it.The research. Collapse allWhen you should prepare your own tax returnWhen you should hire a tax professionalHow to hire a tax professionalSourcesWhen you should prepare your own tax return. First, let’s be clear: Anyone can prepare their own return. Some people prefer to handle tax filing on their own no matter how complex their tax situation gets.But just because you can doesn’t mean you should. A tax pro may be able to prepare your return in a fraction of the time you would take to prepare it yourself. Plus, the pro might uncover deductions, credits, or other tax strategies you aren’t aware of that could significantly lower your tax bill.Your tax situation is simple. If preparing your taxes consists of gathering a W-2 from your employer and a 1099 from your bank and entering them in a form, your return is simple, and you should consider filing by yourself or using tax software.You have the time. Even if you hire a professional, you need to spend some time gathering your records, answering questions, and reviewing your completed return before filing. But as you might imagine, tax preparation takes longer when you handle all the details yourself.The IRS estimates that non-business filers—those whose individual returns don’t include income from a business, rental property, pass-through business, or farm—average eight hours to prepare a tax return (PDF). This encompasses three hours for record keeping, one hour for planning, three hours for completing and submitting the forms, and one hour for miscellaneous tasks such as collecting paperwork, downloading software, or making photocopies.For taxpayers whose returns include income from a business, rental property, or farm, the average preparation time jumps to 21 hours, 11 of which they spend on record keeping alone.If you’re an organized person with that much time to compile, plan for, and prepare your own tax return, give tax-filing software a shot.When you should hire a tax professional. If you don’t have a lot of time to spend on tax preparation or your situation is complicated, hiring a tax professional is generally the way to go. But what exactly makes a tax return complex? Here are a few scenarios that could make preparing your tax return a little tougher.You’re self-employed. When you own a business, you don’t have an employer withholding taxes from your paycheck each month. You’re responsible for tracking income coming in and deductible expenses going out, as well as for making estimated tax payments every quarter.If you don’t have a good understanding of estimated taxes, deductible expenses, depreciation, and accounting for inventory, you should probably hire a professional who does.You’ve had a big life event. Major life events such as getting married or divorced, having a child, moving out of state, starting a business, buying or selling a home or investment property, or receiving an inheritance can have a significant impact on your tax situation. These events can affect your filing status, the number or type of deductions and credits you can claim, and the forms you need to attach to your return. These are good times to seek out expert advice.You own rental property. A tax return with rental income can get tricky. Special rules govern depreciating rental property and claiming losses from rental activities. A tax pro can help you claim your rightful deductions.You have foreign bank accounts, investments, or income. Foreign bank accounts and investments can trigger more tax-filing requirements, even if you don’t earn any income from the accounts.Plus, the penalties for not following the rules are stiff—up to $60,000, plus potential criminal penalties for failing to disclose and file.If you have a financial interest in a foreign financial account, are an authorized signer on a foreign account, or earn money from a foreign country, it’s a good idea to work with a tax professional who has expertise in handling these situations.You made mistakes on a prior-year return or are being audited. With today’s ultra-complicated tax rules, anyone can make a mistake on a return. If you notice the error before the IRS does, you can fix your mistake by filing an amended return using Form 1040-X.If it was a simple error, you might feel comfortable filing the amended return on your own using tax-filing software if you used said software to file your return initially and it has retained your information.However, if the IRS caught your mistake and is charging you back taxes and penalties or selects your return for an audit, you might want to talk to a professional. Even the IRS makes mistakes, so a tax pro will confirm whether the IRS’s assessment is correct and help you respond appropriately.You want to save money (potentially). We’ve already mentioned the cost of hiring a tax professional. But what if hiring a tax pro can save you money?Anyone can drop numbers into tax-filing software, but a qualified tax professional can analyze your situation, look for tax-planning opportunities, and help you plan for next year.That’s a lesson Matthew Ross, COO of the e-commerce website The Slumber Yard, learned the hard way. Ross refused to hire a tax professional for years, assuming that paying someone else to prepare his return would be a waste of money.“Last year, I finally broke down and hired a local CPA because I was super busy around tax time,” Ross said. “Well, it turned out I was overlooking all sorts of deductions and strategies for years, and it cost me big.... My accountant estimates I paid over $100,000 in taxes that I actually didn’t need to pay.”Your opportunities for saving on your taxes will depend on your situation and how complex it is. If your main tax concerns are your job’s income and the interest on a savings account, you probably don’t have many opportunities to save.But if your situation is more complicated, working with a professional who has intimate knowledge of the tax code could result in serious savings.A good tax pro can do more than beef up your bottom line. By building a relationship with your accountant, you can help your accountant get to know you and your unique situation. In turn, they can take charge of small tasks, such as prompting you to send in relevant documentation for a deduction, or remind you to adjust your withholdings. Having an expert look out for you during tax season and beyond can give you priceless peace of mind.How to hire a tax professional. If you’ve decided that your tax return is just a little too complicated to handle on your own, or if you don’t have time to deal with all of the rules and forms, here’s how you can find a tax professional to help reduce the load.Ask for referrals. Cozette White, CEO of the financial consulting firm My Financial Home, told us in an interview that she recommended asking for referrals from a bank, financial advisor, insurance agent, or business contacts. She said that professional referrals usually mean the accountant has a good reputation, so get the names of two or three tax pros from your network. You can then narrow down that list by checking credentials and interviewing your candidates.Check credentials. It’s hard to believe, but nearly anyone can set up shop as a paid tax preparer: All it takes is applying for a free Preparer Tax Identification Number (PTIN) from the IRS. At a minimum, you should confirm that any tax pro you work with has a PTIN, but it’s a good idea to look for additional credentials as well.The IRS maintains a public directory of PTIN holders who also hold professional credentials such as Certified Public Accountant (CPA) or Enrolled Agent (EA); the directory also includes attorneys who specialize in tax preparation and planning, as well as preparers who voluntarily complete a continuing-education program each year. Screen your referrals against this directory, and don’t work with anyone who is not on the list.If the preparer is a CPA, you can also confirm that their license is active by visiting the website of your state’s Board of Accountancy and searching for their name. In California, this form allows you to check a CPA’s credentials.Interview candidates. As White recommended, once you’ve narrowed down your list of referrals, contact them to learn more about their experience and to give them information about your needs and expectations.Here are a few ideas on what to ask during the interview:How long have you been in business? Someone who has been preparing returns for a few years is likely to have a better understanding of tax laws, IRS procedures, and tax-planning strategies.Do you have a niche? Many tax preparers specialize in working with certain types of clients. For example, some may work primarily with high-net-worth people, business owners, clients who have foreign income or assets, or doctors and dentists.Are you available year-round? Some tax preparers set up shop during tax season and close after April 15. But you might need tax planning, advice, or help responding to an IRS notice at any time of the year. Look for someone who is available when you need them.How do you bill for services? Some accountants charge a flat rate, some charge by the hour, and others may base their fee on your anticipated refund. Provide a copy of last year’s return and ask for an estimate of their fees. Let them know about any special circumstances that affect your tax situation this year, such as marriage or divorce, purchase of a rental property, or the start of a new business. If they charge a flat rate, make sure you know what is included in that fee. For example, if you receive a notice from the IRS questioning the income or deductions claimed on your return, is responding to that notice included in the fee, or is that a separate charge? And we recommend avoiding an accountant who charges a fee based on your projected refund, as that fee structure may incentivize the accountant to try to beef up your refund with inappropriate deductions.What software programs or apps do you use? The tax-preparation business is in the middle of a disruption—technology is automating many of the tasks humans performed previously. Many accountants have embraced this change and adopted technologies that make it easier to work with their clients and free up time to provide more strategic advice. Working with a tax preparer who takes advantage of tools such as cloud accounting and apps that allow you to securely send documents and electronically review and sign your return can save time and trips to their office.If you’re trying to hire a tax preparer in the middle of a busy tax season, it might be difficult to find someone willing to take time out of their day to sit down with you for a lengthy interview. However, most of them should have time to answer a few questions over the phone, and as White said, it’s important to look for someone who is helpful and informative.“The accountant who offers the most detail and takes the most time to not only tell you about the services they can offer but also listen to your concerns is usually the type of accountant you are looking for,” White said. “You want to select an accountant that you feel you can build a good rapport with as well as someone who will have your best interest in mind.”Sources. Cozette M. White, CEO of My Financial Home Enterprises, email interview, December 18, 2018Matthew Ross, COO of The Slumber Yard, email interview, December 18, 2018About your guide. Janet Berry-JohnsonFurther readingHow to Find the Best CPA or Tax Accountant Near You. by Janet Berry-JohnsonHere are tips and recommendations on how to hire a CPA or tax accountant near you—or further afield, if your local options are limited.The Best Online Tax Filing Software. by Melanie PinolaThe most helpful tool to file your taxes online is TurboTax. Use the IRS Free File version if you qualify, or start with the Free Edition if you don’t.Tools to Stay on Top of Your Taxes All Year Long. by Makula DunbarTax season can be stressful and time-consuming if you haven’t prepared properly. Here are a few tried and tested tools that can help you get organized.How the New Tax Law May Affect Your 2018 Taxes. by Janet Berry-JohnsonThe Tax Cuts and Jobs Act of 2017 may lead to big changes in your taxes, especially if you work from home, live in a high-tax state, or have dependents.EditDismiss
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Result 28
TitleOregon Board of Tax Practitioners : Exam Requirements : State of Oregon
Urlhttps://www.oregon.gov/obtp/pages/examrequirements.aspx
DescriptionExaminations for Oregon Tax Practitioners
Date
Organic Position27
H1
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Result 29
TitleTax Attorney vs. CPA: Why Not Hire A Two-In-One? - AAA-CPA
Urlhttps://www.attorney-cpa.com/articles/tax-attorney-vs-cpa/
DescriptionWith the improved value of a tax attorney and CPA rolled into one professional, it is easy to see why businesses would benefit from hiring an Attorney-CPA
Date
Organic Position28
H1Tax Attorney vs. CPA: Why Not Hire A Two-In-One?
H2The role of a tax attorney
The role of a CPA
The benefits of a dually-certified professional
H3
H2WithAnchorsThe role of a tax attorney
The role of a CPA
The benefits of a dually-certified professional
BodyTax Attorney vs. CPA: Why Not Hire A Two-In-One? Whether you are seeking a professional to assist with tax issues on personal or business-related concerns, it can be difficult to determine exactly which expert best fits your needs; there are so many financial advising specializations with innumerable designations that it eventually seems to become a confusing jumble of letters on a business card. It is easy to see why small businesses would benefit from hiring a dually-certified Attorney-CPA. However, two of the most reliable and well-known professionals that can aid you with various tax problems are the tax attorney and the CPA, both of which offer different — though often overlapping — services. Tax attorneys and CPAs can both assist with a variety of your tax needs, yet there are distinct limitations to what roles they can play on their own. This is why hiring a dually-certified Attorney-CPA is the smarter way to go, as they can provide a more comprehensive level of service due to their background and education in both highly technical fields. The role of a tax attorney. Tax attorneys are lawyers who have gone through law school, passed their state’s bar exam and emphasize tax issues in their practice. Unlike CPAs, who are skilled in managing financial records and preparing tax returns, the tax attorney is more planning and dispute-oriented; meaning they are primarily trained to help minimize a business’ tax liability through the structuring of assets or to represent them through tax-related litigation. While CPAs are authorized to represent clients in IRS disputes, they typically do not have the training or experience that a tax attorney would have when it comes to representing a client. If you are facing an audit with the potential for harsh penalties, a tax attorney would be the better choice due to their negotiation skills and intimate knowledge of legal principles and case law. Tax attorneys also offer one major benefit that a CPA does not — confidentiality. Any information you provide your tax attorney is protected by client-attorney privilege, meaning they cannot be forced to testify against you. This offers a distinct advantage if you are dealing with possible criminal charges from the IRS and you wish to prevent conversations with your tax expert from inadvertently being used against you. The role of a CPA. CPAs dedicate their education — which is extensive — to a broad range of accounting fields. From auditing and taxation to bookkeeping and business strategy, CPAs are one of the most versatile financial planners available. Considered the most trusted advisor in their industry, CPAs are a great choice for year-round financial recordkeeping and tax preparation; however, their diverse skillset and stringent education requirements sets them apart from other accounting professionals. While a CPA is one of your best options when it comes to filling out those convoluted IRS forms come tax season, they can also serve as a principal advisor for many different financial decisions, including estate planning, investment and real estate advice, certain IRS problems and more. However, one of the most beneficial services a CPA can offer is the ability to review or audit a business’ financial records to identify problem areas that need improvement, as well as where you are in good standing. This can not only help you make better-informed business decisions, but also ensures you are in compliance with IRS regulations to help you avoid future tax penalties and can even help your business achieve better interest rates. The benefits of a dually-certified professional. While a tax attorney is typically reserved for more specific and complex tax issues whereas the CPA is usually utilized on a more regular basis to keep your financial records in order and prepare your taxes, the advantages of having a two-in-one professional are hard to overstate. Not only do dually-licensed Attorney-CPAs have the financial background to understand the intricate details of your company’s balance sheets, but they are also able to advise on business structure to reduce tax liabilities and hopefully help you avoid any trouble with the IRS. However, should you ever run into any legal trouble regarding your tax filings, your dually-licensed Attorney-CPA would be well-equipped to represent you due to their knowledge of your business’ financial records and their litigation training. Additionally, you may be able to save money in the long run by hiring one professional who has the knowledge and expertise to advise on both important business decisions while still preforming the routine tasks of keeping your finances running smoothly and ensuring your taxes are professionally filed. With the improved value of a tax attorney and CPA rolled into one professional, it is easy to see why small businesses would benefit from hiring a dually-certified Attorney-CPA.
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